Assistant Professor of Accounting

Muhammad
Azim

I study how financial reporting and market forces shape real-world outcomes — from government procurement and sustainability to market fairness and executive pay.

University of Waterloo
PhD, Rotman / U of T
CPA, CA
Muhammad Azim
01

About

I am an Assistant Professor of Accounting at the University of Waterloo's School of Accounting and Finance. My research investigates the real effects of financial reporting and market forces, with a growing focus on issues beneficial to society — government contracting, sustainability, and market fairness.

Before academia, I trained as a CPA, CA at Deloitte in Toronto (2011–2014), which grounds my research and teaching in the practical realities of the profession. I hold a PhD from the Rotman School of Management at the University of Toronto and an MSc in Finance from Queen's University.

In the classroom, I believe in high expectations paired with high support. My teaching philosophy centers on creating inclusive environments where students develop the technical rigor and communication skills to thrive professionally.

Position
Assistant Professor
School of Accounting & Finance
Education
PhD, Accounting — U of Toronto
MSc, Finance — Queen's University
BCom, First Class Honors — Queen's
Designation
CPA, CA (Ontario, Canada)
Research Interests
Sustainability Gov. Contracting ETFs Compensation Financial Reporting Governance
02

Research

My research agenda explores two primary streams: the role of accounting in government procurement and sustainability, and the capital market effects of Exchange Traded Funds. I aim to produce work that advances academic theory while providing actionable insights for regulators and policymakers.

Government Contracting & Sustainability

"Green Public Procurement: International Evidence"
with Ole-Kristian Hope, Sasan Saiy & Giulia Sargiacomo
UW CSPM Seed Grant Recipient (2024, 2025)
"Government Sensitivity to Negative Contractor News in Procurement"
with Preetika Joshi & Allison Koester
SSHRC IDG Winner 2025 — CAD $52,000
"Do Government Procurement Contracts Mitigate Managerial Extraction of Private Benefits?"
with Ole-Kristian Hope, Sasan Saiy & Giulia Sargiacomo
"Relative Legislation Intensity and Subsidiary Investment Decisions: International Evidence"
with Preetika Joshi

Capital Markets, ETFs & Market Fairness

"Passive Demand but Active Pay: The Effect of ETF Flows on CEO Stock Option Compensation"
Solo-authored
"Are Insiders Trading Within ETFs?"
with Abdul Mohi Khizer

Financial Reporting & Compensation

"The Impact of FAS 123R on Employee Retention"
with Francesco Bova & Nan Li
"Proprietary Costs and Fair Value Disclosures — Evidence from Purchase Price Allocations"
with Satish Sahoo
03

Teaching

I believe effective teaching requires the transmission of technical knowledge within an inclusive environment where students feel safe to take intellectual risks. My classroom is a professional training ground where accountability is non-negotiable, but so is my support. I balance high expectations with genuine care — using techniques like cold-calling not to intimidate, but to build confidence and ensure every student develops the communication skills to thrive.

Courses Taught
Intermediate Financial Accounting II
AFM 391 · University of Waterloo
Intermediate Financial Accounting II
RSM 221 · University of Toronto
Corporate Accounting II
AC 4301 · City University of Hong Kong
Python for PhD Students
PhD Seminar · University of Toronto
Introduction to Accounting Research
ACC 781 · University of Waterloo (Guest)
What Students Say
"He seemed to really care about his students doing well."
— Student evaluation
"The engagement style pushed me to be prepared for every lecture."
— Student evaluation
"The classroom environment was welcoming and interactive."
— Student evaluation
"The method was rigorous but he made it feel supportive rather than intimidating."
— Student evaluation
"He emphasizes the logic behind the standards — understanding why, not just how."
— Student evaluation
"One of the most effective instructors I've had. High expectations but always had our backs."
— Student evaluation
04

Projects

Beyond traditional research, I enjoy building tools that solve real problems for the academic community. These projects sit at the intersection of my research knowledge and a growing interest in software development.

📊
Web Application
Academic Conference Tracker

A searchable database of Finance, Accounting, and Economics conferences with advanced filtering, deadline tracking, and admin tools.

Visit site
🚀
Coming Soon
More Projects

New tools and applications are in development. Stay tuned for more projects at the intersection of accounting research and technology.

05

Awards & Grants

SSHRC Insight Development Grant
Social Sciences and Humanities Research Council · 2025
CAD $52,000
CSPM Seed Grant
University of Waterloo · 2025
CAD $7,000
CSPM Seed Grant
University of Waterloo · 2024
CAD $7,000
06

Contact

I welcome opportunities to collaborate on research, discuss teaching innovation, or explore how accounting can serve the public interest. Feel free to reach out.