The abbreviation ICAI is the common term for chartered accountants and cost accountants. The expansion sounds like the Institute of chartered accountants of India for CA. The expansion is the Institute of cost accountants of India for cost accountants. It is mentioned as ICMAI on the website. The ICAI trademark is leading to confusion. Public from outside sees the qualifications as the same. The trademarks act, section 29(3) says that the likelihood of a name lead to confusion. As per this act, the court bench ordered the Institute to change the name within three months. The web pages, physical and virtual representations have the name.
Details of the case:
The verdict was filed by ICAI. It is against ICAI-CMA. Chander Lall is the plaintiff who filed the case. The defendant’s name is Munish Mehra. The defendant institution used the name in consequent communications. The plaintiff addressed this issue to the MCA. The court said that the mention of the full name makes it easy to understand the general public. Justice C Hari Shankar declared that it is not the right representation. The usage of the acronym requires additional proof. The evidence makes it clear to understand the difference in the usage. The plaintiff says that the name was registered by the Institute under clause 41 on March 25, 2011. Clause 41 is related to education and providing training. Previously the institute operated under the name Cost and works accountants of India with the same activities.
Activities of ICAI:
The following are the details of the upcoming events in ICAI. The functioning of ICAI is designed for the benefit of the students and members.
• The year 2023 started with the mega student conference in Noida. The conference is for CA students. This event engaged the students at gutham budh nagar.
• The Kanpur, U.P. students also attended a conference at ICAI Bhawan. This program was held on the 2nd and 3rd of February.
• The Hyderabad chapter organised a grand finale for the talent hunt conducted at the national level on the 2nd and 3rd of February.
• There was a live program on the practical training module on the 22nd of January.
• The other CA mega conferences happened in Ernakulum and Thane.
• National talent search organised a debate and chess competition for 2022.
• Mega CA conference was held in Bhilai, Ranchi and Ahmednagar.
Activities of ICMAI:
The activities of ICMAI help the students and members. The objectives of the ICMAI Institute are as follows:
• The functions of cost accountancy contribute to economic activities in all spheres.
• The Institute intend to promote scientific methods to manage complex managerial issues.
• The professionals are trained with skilled methodologies that contribute to economic growth.
• The latest changes, practices and principles are attributed to the syllabus.
• To supervise the ethical standards of cost accountants.
• ICMAI organised conferences and seminars for professional growth.
• ICMAI does research activities and publishes books to enhance professional interest.
Professional guidelines regarding the usage of the term CA in social media:
According to the advertisement guidelines, 2008, volume-II, the social networking websites used by a chartered accountant should abide by the guidelines mentioned. The following rules are present in the prescribed guidelines:
• The code of ethics operates in social media also. The professionals should not upload videos that consist of educational content.
• Such educational videos are uploaded on the website but not on social media.
• The members have the right to add CA in their prefixes. In the CA course, the qualification is added to the last. In the CMA course, the Associate member and fellow member use CMA as a prefix. Company secretary students also add their qualifications to the prefix.
• The chartered accountants should be focused. The content and comment by a chartered accountant should express dignity. Professional misconduct arises from actions and professional work. It is essential to refrain from comments on social networking sites.
• In the case of participation in social media, the institute demand for clarity. Students with professional degrees use their knowledge and identity in the right place. Social media network has educated and uneducated groups. So, the information in the right place reaches the people who want it. Advertising the brand name is not allowed in the chartered accountancy profession.
Final words:
The cost accountants course was previously named ICWAI. The expansion goes to the Institute of Cost and works accountants of India. Instead of ICAI, writing ICAI-CMA reduce the confusion. The course admission and other regulatory updates confuse the public because of the Institute’s name. The issue from the Delhi court talks about the importance of name identity and trademark.
