The ICAI Accounting Research Foundation aims to pursue and promote research in the various fields related to the profession of Chartered Accountancy through the Universities and other Institutions as well.

The following research projects are currently being undertaken under the aegis of the ICAI Accounting Research Foundation:

1. Developing a Code of Governance of Non-Governmental Organisations (NGOs): The research study primarily focuses on governance in NGOs.

2. Impact of Accounting Standards on Indian Stock Markets: This project is being carried out by the Indian Institute of Capital Markets (Formerly UTI Institute of Capital Markets) to ascertain whether accounting discipline through development of Accounting Standards impacts the capital markets. The project aims to examine such impact from various dimensions including reducing the differentials between fair and accounting values, resolution of information asymmetry, fair and transparent reporting of the state of financial affairs and building investors’ confidence.

3. Project on Outcome Budget: The Hon’ble Union Finance Minister has introduced Outcome Budget from 2005-06, as a part of the reform in public expenditure management. ICAI ARF, as a partner in national development, has supported the project to review the Outcome Budget prepared by the various ministries and departments with a view to improve these.

4. Wider Impact of International Accounting Standards/ International Financial Reporting Standards on Indian Accounting Professions and the Socio-economy-International Comparisons with Anglo-America, China & Japan: The said Business School of the University of Oxford, London has evinced interest in working together with the ICAI ARF, particularly in the areas of Accounting Standards and consequently the ICAI ARF has come forward to support this research project.

5. Project on the Economic Impact of Quarterly Reporting: The Indian Institute of Management Bangalore (IIM-B) has chosen to undertake this project, under the aegis of the ICAI ARF, to investigate the economic impact of quarterly reporting with a view to re-evaluate the role of quarterly reporting. By providing evidence, the project results could influence policy formulation by SEBI and other agencies.

6. Emerging Opportunities for Environmental Auditing: A study of large scale industries of Dakshina Kannada and Udupi District: The overall objective of the project is to review the environmental audit, determine strengths and weakness of environmental auditing practices, assess the driving force for implementation of environmental audit, determine the role of internal auditors and to make recommendations and strategies to overcome weaknesses and barriers and strengthen driving forces to improve current auditing procedures.

7. Valuation of Intangibles: The project aims to study the current methods of valuing intangible assets, the disclosure requirements and to develop a method to value intangible assets of firms that would help investors take more informed and better investment decisions.

8. Early warning signs of frauds: The project has been taken to identify a set of exceptional transactions, that will act as benchmark for the industry. This benchmark set will help the business in reducing the losses caused to the organization by the financially fraudulent activities. Further project is aimed to create awareness about the opportunities pertaining to forensic accounting and to prevent the frauds by understanding the early signs and thereby taking the appropriate action.

9. Other Projects: ICAI ARF has actively involved itself in multifarious accounting reform projects in the Government of India, State Governments and City Governments besides autonomous bodies.