As a part of its continued pursuit to promote research in the fields of accounting, auditing, monetary policies and other related disciplines, the ICAI Accounting Research Foundation (ICAI ARF) has undertaken various projects. The ICAI ARF provides financial assistance for research projects of contemporary national and international significance in the aforesaid areas and publishes the research reports as well. The ICAI ARF 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 / in progress under the aegis of the ICAI ARF:

1. Rolling Out Accrual Accounting across all Zones, Production Units and other offices of Indian Railways
2. Compilation of data and preparation of Financial Statements for FY 2017-18 & 2018-19 and Balance Sheet as on 31.03.2018 & 31.03.2019 for Indian Railways and Conducting studies on data/system shortcomings observed at the Roll Out Stage during compilation of Financial Statements for FY 2015-16 and 2016-17 and its improvements.
3. Preparation of Study Material on Financial Reporting and Financial Risk Management for CPA Papua New Guinea
4. Gap analysis & preparation of common framework for compliance with Major Ports Authorities Act, 2021 and MPA (Accounts & Audit) Rules, 2021 for Indian Ports Association
5. Department of Handloom, Government of Tamil Nadu : The Department of Handlooms, Government of Tamil Nadu has sought assistance of ICAI ARF to draft a procedure manual for the realisation of assets of the Weavers cooperative societies in Tamil Nadu which are proposed for or pending in liquidation.
6. Treasuries and Accounts Department, Government of Tamil Nadu : ICAI ARF is rewriting the following Codes/Rules/Manuals for the Treasuries and Accounts Department, Government of Tamil Nadu :
   • The Tamil Nadu Treasury Code (Volume I & II : Part I & II)
   • The Pay & Accounts Office Manual
   • The Tamil Nadu Accounts Code (Volume I, II & III)
7. Compilation of Financial Statements for FY 2021-22 & 2022-23 and Balance Sheet as on 31.03.2022 & 31.03.2023 for Indian Railways, identification, and adjustment of prior period items based on a review of data for the last four years (FY: 2017-18, 2018-19, 2019-20 and 2020-21) mentioned in the notes to accounts of the respective years