ICAI announces Research Project Scheme, 2021

The Institute of Chartered Accountants of India (ICAI) has announced the Research Project Scheme, 2021.

The primary objective of ICAI Research Project Scheme 2021 is to undertake research in the field of accounting and other affiliated areas with a view to enhance the value of services rendered by the profession.

In the context of the same, research proposals are invited on various thrust areas namely Impact Of CSR on society, sustainability and Integrated reporting, financial and tax literacy, Human resource laws, Forensic Accounting/Auditing And investigation standards blockchain & cryptocurrencies and Others contemporary areas pertaining to profession.

The list does not indicate that an impending applicant must propose for the projects included in the list given above. Applicants may apply for other projects also provided that the topic selected is contemporary and relevant as per the current environment.

It is necessary that the applicant submits a budget for the costs to be incurred for the research project. The budget need not give the actual or the most accurate figures but must be near to the actual expenditure likely to be incurred. It may be noted that the Research Committee would examine the budget in detail before the proposal is approved. If the checking of budget reveals certain issues/questions, an applicant may be asked to provide the response before the proposal is approved. The sanction of the budgeted amount would be at the sole discretion of the Research Committee and it reserves the right to reduce the proposed budget.

The Research Committee would monitor the implementation and progress of the research projects approved under this project facility. The applicant (researcher) may, at any point of time during the project, be requested to provide the details of work done/remaining, the draft of the project/publication, etc, so that the Research Committee may evaluate the implementation and progress. If the Research Committee feels that the project is not being carried out as mentioned in the research proposal or the progress made by the researcher is not satisfactory, the Research Committee may consider withdrawal of the project from the researcher. In such a case, the work already completed would be the property of ICAI.

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