- To promote and foster the culture of research and innovation in the professional subject & economy.
- To undertake research projects on the topic pertaining to Profession, economic system, social system, education system and business environment, Industry specific sectors, Health and Infrastructure etc.
- To publish in the form of research report w.r.t. the research work, study approved under various schemes/ independent research work/ study in the form of research report under Research Committee.
- To conduct research on commerce, trade, industry, economy and accounting, share findings with the government for policy-making, support authorities with research-based recommendations and prepare representations on accounting and professional matters.
- To carry on research in collaboration with other institutions like Niti Aayog, State Planning Department, Research Bodies, Trade Bodies, Chamber of Commerce & Industries, Management Institutes, Universities, Financial Institutions, Corporate Bodies, and Professional Institutes at national and international level.
- To recommend financial assistance for undertaking research on accounting and allied subjects.
- To conduct research on the success rate of various mission started by the government.
- To conduct joint research for transformative insights, innovation and advancement on the subject of professional interest, technology, economy etc. with the support in collaboration with the other committees, directorates & Boards within ICAI.
- To review the annual reports with view to improve the reporting practices and presentation of financial statements through a sub-committee “Shield Panel” and assist & support respective committee of ICAI for conducting the ICAI Awards for Excellence in Financial Reporting.
- International Award for Research in Accounting, Auditing, Economics, Finance and Taxation.
- To establish fully equipped Research & Development centers in the country.
- To consider, deal with and give opinion on matters referred by the Council or by other Committees or by the President.
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