The findings from the research efforts are expected to be communicated to the government. Credit: David Gyung/Shutterstock.

The Institute of Chartered Accountants of India (ICAI) has inaugurated a research hub at its Centre of Excellence (CoE) in Hyderabad, Telangana, reported Press Trust of India. 

Nupur Pavan Bang has been appointed as the director and dean of CoE. 

This centre will delve into topics such as union and state budgets, financial literacy, and the influence of chartered accountants in policymaking and governance.  

The ICAI’s initiative is aimed at enhancing the ease of doing business in the country.  

The findings from these research efforts are expected to be communicated to the government. 

The ICAI currently operates two Centres of Excellence in Hyderabad and Jaipur and has plans to unveil a third in Kolkata by January 2025. 

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In addition, the institute has plans to establish eight more CoEs across India over the next three years, with a focus on fostering research, innovation, and skill development. 

ICAI president Ranjeet Kumar Agarwal said: “Through state-of-the-art research, development, and innovation facilities, ICAI aims to produce impactful research that will help in policymaking, strategic decision making, cultivating professional excellence, creating rewarding opportunities for students and professionals globally and supporting the upskilling and reskilling of ICAI members, students, employees, government officials and other stakeholders.” 

This month, the ICAI also stepped up its disciplinary measures against members found guilty of professional misconduct.  

This move is in response to previous criticisms regarding its disciplinary record, which led to the government’s creation of the National Financial Reporting Authority (NFRA) to monitor auditors and audit firms of listed and large entities.  

The ICAI, a statutory body established by an Act of Parliament, operating under the Ministry of Corporate Affairs, currently has approximately 985,000 students and more than 400,000 members.