To promote research in the field of Accounting and Finance, the Institute of Chartered Accountants of Pakistan (ICAP) and Institute of Business Administration laid the foundation of ICAP-IBA Research Unit (IIRU). The two institutes expressed their intention to promote research and development in Pakistan by attracting and retaining outstanding scholars having research interest in the areas relevant to the profession, including finance, accounting, auditing, corporate governance and taxation. ICAP and IBA sponsors of the IIRU will provide the requisite funding, in shape of grants to the research candidates. The Unit will focus on action-oriented research, which is expected to create value and impact for relevant stakeholders. Through this initiative ICAP members, students and renowned researchers will work together as team to foster culture of research. IIRU will be governed by Research Oversight Committee, chaired by President ICAP, with members from both Institutes. Mr. Khalilullah Shaikh, President ICAP speaking on the occasion said both institutes share the common vision of serving public interest and ICAP-IBA Research Unit (IIRA) is a great step in this direction. ICAP has been striving to foster culture of research in CAs and IIRU will help contribute towards this area. He further added that ICAP is well represented in global accounting bodies and CAs from Pakistan are proving their mettle across the globe. The President said that the field of research has always been very close to his heart and establishment of IIRU will go a long way in inculcating research culture at ICAP. Dr. Syed Akbar Zaidi, Executive Director IBA welcomed President ICAP to IBA. He expressed his gratitude that leading professional body has come forward to become a partner for research and development. He said that the collaboration between the leading university and professional accounting body in the field of research will be beneficial for the research fraternity and Pakistani society. He further added that the IIRU framework has already been developed and the advertisement for call for proposals will be the next step. Mr. KhalilullahShaikh (President ICAP), Dr. Syed Akbar Zaidi (Executive Director), Mr. Syed NajmulHussain (ICAP Council Member), Mr. Riaz A. Chamdia (ICAP Council Member), Mr. ShareefTabani (ICAP Council Member), Mr. Syed MasoodAkhtar (Secretary, ICAP), Mr. HaroonTabraze (IBA) and senior officials from both the institutes were present at the occasion.
