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Bala G. Dharan

Managing Director


Dr. Bala Dharan specializes in financial accounting and valuation, international arbitration, financial markets, and forensic accounting services. Dr. Dharan has extensive experience as an expert in matters concerning accounting, corporate finance, valuation and investment analysis, corporate governance, due diligence, energy and utility industry issues, transactional and forensic analysis, cost analysis, and damages analysis. He has served more than 25 times as a testifying expert in several major litigation and arbitration matters. He has also served as a consulting expert on several dozen other litigation, arbitration, and business consulting engagements.

Dr. Dharan is Robert B. and Candice J. Haas Visiting Professor in Corporate Finance Law and a senior lecturer at Harvard Law School. He is internationally recognized as an expert on accounting, finance, and valuation matters, including issues related to the financial crisis, such as the analysis of complex structured finance transactions. He has published widely in major international accounting and finance journals, and he has coauthored four textbooks on financial accounting and finance topics. He has served as director on the boards of companies and not-for-profit organizations, and he has provided invited testimony three times before the U.S. Congress on special purpose entities, mark-to-market accounting, accounting standard setting, and energy reserves reporting.

Dr. Dharan is a Certified Public Accountant (CPA) and holds ABV (Accredited in Business Valuation) and CFF (Certified in Financial Forensics) qualifications. He has a Ph.D. and an M.S. in accounting from Carnegie Mellon University; an MBA from Indian Institute of Management, Ahmedabad; and a B.Tech. in chemical engineering from Indian Institute of Technology, Madras.


Carnegie Mellon University
Ph.D., Accounting
M.S., Accounting

Indian Institute of Management, Ahmedabad
MBA, Finance

Indian Institute of Technology, Madras
B.Tech., Chemical Engineering

Employment History

Charles River Associates (CRA International, Inc.)
Vice president
2007 - 2013

Harvard Law School
Robert B. and Candice J. Haas Visiting Professor/Senior lecturer
2013 - present
Robert B. and Candice J. Haas Visiting Professor
2010 - 2013
Visiting professor
2008 - 2010

MIT Sloan School of Management
Research affiliate
2011 - present
Visiting professor
2009 - 2011

Rice University
J. Howard Creekmore Professor Emeritus
July 2009 (courtesy lifetime appointment)
J. Howard Creekmore Professor
1994 - 2009
Jesse H. Jones Distinguished Associate Professor
Assistant professor
1982 - 1987

University of California, Berkeley
Visiting Associate Professor
1988 - 1989

Harvard Business School
Visiting Professor
1994 - 1995

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Professional Affiliations

American Institute of Certified Public Accountants, Forensic and Valuation Services Section

American Accounting Association

American Finance Association

CFA Institute
Non-chartered member