The Research and Technical Department has two main units :- Research Unit and Technical Unit. The Institute's research policy is to "encourage, stimulate and create a robust environment for and conduct research into the science of accounting, economics, finance, taxation and related fields for the development of new knowledge in response to the changing needs of its members, students, government and the public" .
The Research Unit
The Research Unit carries out its functions within the framework of the Institute's Research Policy. Some of the objectives of the Research Unit are to
Provide and maintain a data bank and serve as reservoir of information to the Institute on accounting, economic, tax, financial and related disciplines;
Serve as think-tank to the Institute by initiating research proposals and other programmes that would lead to over-all development of the Institute, accountancy profession and the Nigeria economy in general.
Assist the Technical, Research and Public Policy Committee to carry out the duties delegated to it by Council.
Carry out specific research proposals determined by the Technical, Research and Public Policy Committee, Management and Council from time to time.
Initiate research proposals into accounting, economic, financial and related disciplines;
Undertake collaborative research studies with other departments, agencies, Universities, Polytechnics, etc;
Publish and disseminate research findings and technical materials as approved by Council
Receive, review and recommend to the Technical, Research and Public Policy Committee for funding, research proposals considered beneficial to the Institute's stakeholders;
Organise value-driven workshops that will raise the quality of research results, enhance knowledge of publications as well as the performance of stakeholders;
Joint Research projects
The Institute undertakes research projects with persons in tertiary institutions in an effort to promote the objectives of the Institute. The areas to be researched into must be jointly agreed and in the interest of the Institute, Accountancy Profession and the Nigeria economy. (for more information click 'call for commissioned research proposal')
Accounting Research Foundation
The Institute established its Accounting Research Foundation to source for funds, encourage, promote and finance the conduct of research projects into identified areas or disciplines. The Foundation regularly receives and processes applications for research grants by researchers. This is also used to fund PhD research in Accounting, Taxation, Auditing, Finance and related areas. (for more information click 'guidelines for PhD Research Grants application' )
The Technical Unit
The Institute's technical policy is designed to ensure that the Technical Unit continues to serve as the fulcrum for building intellectual and professional relationships with local and international bodies, academics, institutions of higher learning, research institutes and other players in the knowledge industry through the publication of research findings, technical, professional and informative materials in the areas of accounting, bankruptcy, economics, finance, business law and allied disciplines for the guidance and benefit of its stakeholders. Some of the objectives of the Technical Unit are to:
. Initiate intellectual, professional and technical articles for publication by the Institute in its journals and periodicals;
. Periodically prepare memoranda and aide-memoir for submission by the Institute to aid and influence the policy thrusts of government in the public interest;
. Receive, review and assess all technical and professional materials before publication by the Institute;
. Periodically review and advise on the relevance, adequacy and efficacy of current ethical and professional standards using IFAC/IASB standards as benchmark;
. Assist the Technical, Research and Public Policy Committee of Council in the areas of Technical matters and technical publications;
. Serve as solution-driven help desk to its stakeholders;
. To initiate and recommend to Council through the Technical, Research and Public Policy Committee, position papers on accounting, economic, financial and social matters of public and national importance;
. To serve as arrow-head for effective liaison between the Institute, regulatory and standard setting bodies as well as research inclined institutions both local and international.
The Research Journal
As part of initiative towards strengthening relationship with its members and tertiary institutions across the country and beyond as well as other professionals who are interested in accountancy research works, the Institute publishes an academic research Journal titled: ICAN JOURNAL OF ACCOUNTING AND FINANCE (IJAF). The research journal was conceived with a view to creating avenue for members of the Institute in academia and others in practice who are interested in research work, the result of which are published and added to the compendium of research works that contribute to knowledge development and provide technical information and new developments in the field of accounting, finance, business and other related areas. (for more information click 'call for articles')