The honourable Prime Minister of India Mr. Narendra Modi conveyed his best wishes for the GloPAC meeting. The program is for the members of ICAI. India is working hard to acquire the position of the largest global hub for the accountancy profession. The GloPAC is a network to welcome foreign students and market Indian talents. GloPAC is a long way in supporting for promoting the accountancy profession. On November 24th, 2023, ICAI organised the Global Professional Accountant’s Convention program. The program is with the theme of connecting the globe and creating values. The program was held at Gandhinagar, Gujarat. The ICAI had designed a new logo reflecting Indian values and partnerships. The new logo has been released during this program. The new logo has three colours of the Indian flag and a tick mark over the “A” letter of CA. The logo says the participation of professionals in nation-building and the right attitude towards intelligence. The logo shows the independence, excellence and integrity of the chartered accountancy profession. The blog highlights the difference between old and new logos, the importance of branding in the educational sector, and the professional ethics of students.
Difference between the old and new CA logo:
ICAI is the second largest institution for accountancy education. The second position is due to membership and accounting proficiency. ICAI made changes to the logo to celebrate 75 years of trust. The old logo has words from Sanskrit. The logo with change has 75 as a mark of ICAI’s journey. The logo of ICAI represents Garuda. The bird stands as a symbol of power, strength, and wisdom. The Garuda in blue colour reflects consciousness and intelligence. ICAI was established in the year 1949. The current membership goes as 2.5 lakhs. The old logo has words that represent Indian culture. The Sanskrit words say that a person with consciousness is among a group of persons with sleep. The new logo has blue as a major colour. The blue colour represents the sky and ocean. The reachability of the CA course is high. The blue colour expresses the global reach. The tricolour flag represents the domestic values and national building. The contribution of CA in the tax collection and financial reports ends with national development. Chartered accountants are the pillars behind the success of start-ups, and small and large businesses. The tricolour with a tick mark represents the journey of chartered accountants with the right attitude towards nation-building. The logo has the aesthetic, cultural and digital elements in it. The ICAI logo forms a part of marketing. The logo with meaning and value stands in the minds of the readers.
Importance of branding in the education sector:
The logo is an eye-catching picture with values. The students from other countries check the results, coaching, syllabus and logo. The internet media spreads the identity through images and videos. The following points shed light on the importance of branding in the educational sector.
- The brand identity helps the educational institution to get recognition.
- Trust building is the first step of educational institutions to catch young minds.
- The brand identity is for the long-term growth of the institution.
- Branding helps reduce the competition.
- Branding starts from the internet and reaches a large amount of population.
- Brand identity help for hosting events and webinars.
- By highlighting unique values, the students with relevant interests join the institution.
- The brand name reflects the quality and standard of coaching and evaluation.
How brand name and company logo is different from each other?
The brand name is the history of the company in terms of quality. The logo is the visual representation of the vision and mission of the company. In marketing, the logo has more value than the brand name. The brand name is customer satisfaction. The logo is the representation of the goal. Brand name changes by the marketing strategies. The logo and the value of the logo stand as a symbol of service. Private and public companies focus more on promoting the brand name. Government entities and service-oriented organisations focus more on reaching the public with a powerful logo and motto.
How does ICAI arrange for international job opportunities?
ICAI arranged article ship training with the big four firms for students with high marks. ICAI provide campus placement to AIR holders. The students with high marks get a high salary after completing the course. The network between India and foreign countries pay way to the workshops, webinar and events. The international workshop promotes specialised knowledge. The students get increased opportunities with global partnerships. ICAI has overseas centres and signed a memorandum with other countries. International events improve the job opportunities for the beginners.
How does ICAI match the demand for chartered accountants?
Every year, the pass percentage of the CA student is between 8 to 12 per cent. The reason for this low percentage is the need for intelligence. The profession requires high-level skills. The role of ICAI is to supply the resources with intelligence and change the syllabus as per the dynamic market. ICAI has a brand name because of the difficulty level of the question paper and time-to-time changes in the syllabus. ICAI attract international students also. The constant demand for chartered accountants enhances the salary, growth and value of the chartered accountants.
As an institute created by the parliament, the role of ICAI is to create professionals with skills to contribute to nation-building and supply professionals to the global job market. ICAI is rendering service and representing India through quality of education. The new logo of ICAI represents the voice of India.