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- ICAI just opened a “research center” at its Centre of Excellence (CoE) in Hyderabad.
- The goal? To drive innovation and explore key topics like taxation, FDI, economic growth, GST, employment, and sustainability.
- Dr. Nupur Pavan Bang will be leading the charge as the Director-cum-Dean.
What is a CoE by ICAI?
CoE by the ICAI is defined as a world-class infrastructure that enables excellence in teaching, research, consulting, and other professional activities. It is exclusively available to Chartered Accountancy students.
ICAI’s internal sources provide the funds for opening these centres.
The Centre’s programs help students develop:
- Effective communication skills
- Business Etiquette
- Presentation skills
- Leadership abilities
- Interview skills
- Group discussions
- Negotiation skills.
The residential aspect allows them to create a strong network, as students come from all over India.
So basically, ICAI Centres of Excellence (CoEs) are here:
- To help chartered accountants stay ahead of the curve.
- Fostering research, building skills, and preparing the profession for the future.
The Foundation Stone of the first CoE was laid in Hyderabad, on 24th January 2006.
Right now, ICAI has CoEs in Hyderabad and Jaipur.
The third one’s opening in Kolkata in January 2025 and 8 new CoEs are planned in the next three years to keep the innovation and skill-building rolling!
Now ICAI started a “research centre” at its Hyderabad CoE
This facility is aimed at undertaking research in critical areas including:
- Taxation
- Regional and rural economic development
- Foreign direct investment (FDI)
- Economic growth
- Income and savings trend
- Foreign policy
- Government policies,
- GST, employment,
- Environmental sustainability, among others.
Leadership of research centre…
Dr. Nupur Pavan Bang is an esteemed academic and researcher, and brings extensive expertise in family business, finance, and data analytics, according to an ICAI statement.
Formerly the Academic Director at ISB’s Thomas Schmidheiny Centre for Family Enterprise.
She’s a big name in finance and analytics, has taught at top institutions like ISB and IIM Ranchi, and was even named one of India’s Top 100 Women in Finance in 2020.
Why all this is important…
ICAI is the second largest professional accounting body in the world in terms of membership and number of students after the AICPA.
It has almost 8 lacs students who are registered. And the registrations have started to decrease in the last few years!
Efforts like this are much needed!
Wrapping up…
ICAI’s CoEs are all about making an impact.
By bridging research and real-world applications, these centers are setting up chartered accountants to take on big challenges and drive India’s growth story.
