|The Objectives with which the fund is established to commemorate the name of the late S. Vaidyanath Aiyar, a former President of the Institute by raising contribution on a voluntary basis from the members of the Institute for the following purposes:-
(a) providing an annual award to one or more members of the Institute who has made an outstanding contribution in the field of Accountancy or in an allied field;
(b) providing financial assistance to poor and deserving articled/and/or audit clerks for payment of coaching Board and Examination fees;
(c) payment of honoraria for delivering Research Memorial Lectures or for contributing a series of articles in the journal of the Institute.
(d) financing a research project by payment of expenses of a research worker engaged in research in advanced aspects of accounting or auditing either independently or in collaboration with a University, Research Foundation or Chamber of Commerce.