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ACCA reveal new logo

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18th May 2007
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ACCA Logo - Before

ACCA Logo - After

The ACCA unveiled the next step in the evolution of their brand identity today when they publicly revealed their new logo. The previous logo consisted of the white letters ACCA near the bottom of a square, underscored. The new logo consists of the white letters ACCA in the middle of a square, without underscore.

“ACCA has always been an innovator”, marketing director Neil Stephenson commented. Their latest logo is part of a “brand identity overhaul” which will cost £85,000. The previous logo was seven years old, and its replacement is described in the press release as being “robust enough to transcend cultures”.

ACCA used the global design agency Fitch to implement their new brand identity. The first design agency to gain a stock-exchange listing, Fitch describe themselves as “designers of vivid consumer experiences that enhance people’s lives at multiple points of interaction.”

“We were quite clear about what we wanted,” said an ACCA spokesperson, who said Fitch were given a full brief. Fitch were unavailable for comment.

ACCA aren’t the only accountancy body to have invested in a new look. In January, the ICAEW kicked off the new year with a similar “brand evolution” when they unveiled a revamped Economia. She re-appeared slightly slimmer and sans scales, for which the Institute paid £65,000.

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Replies (27)

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By AnonymousUser
27th Apr 2009 11:31

ACCA website in the Australia
Nice reading here :

http://www.accaweb.com.au/wp-content/uploads/accanews_summer09.pdf

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By User deleted
24th Apr 2009 11:31

Pls surf this website for ACCA LOGO
http://www.accaweb.com.au

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By User deleted
18th May 2007 15:19

Logo
£85K for a change in colour and letter positioning!

I could have done that for £5.

I bet the subs go up to recoup the £85K.

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By User deleted
18th May 2007 15:55

Innovator ?
“ACCA has always been an innovator”, marketing director Neil Stephenson commented.

How does this fit with doing this a few weeks after the ICAEW did it ?

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By User deleted
18th May 2007 13:55

same old same old
Economia has gotten slimmer and ACCA a little thicker.

Why do we need this, i get loads of mail from ACCA and not once was i asked if i felt we needed a new logo....

Can anyone guess what my answer might have been?

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By egbell
18th May 2007 13:46

Wot a load of rubbish!
First the ICAEW ,now the ACCA.I thought we we was accountants not spivs & obsessed with our "image".Thank heaven the ICAEW only gets a retired member's sub from me & I am not in the ACCA.So much for a "prudent"
profession.

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By User deleted
22nd May 2007 02:54

Mergers do not resolve problems.
Mergers really do not resolve any problems for the members of professional accounting bodies, if the members choose not to be active in participating in the strategic direction of the professional body. Furthermore competition among the CCAB bodies is a healthy one. The UK accounting profession is unique, with many professional bodies and if there is a merger it will probably be all the CAs under an umbrella body, ACCA ,CIMA & CIPFA under the alternative body which makes sense since the entry requirement for ACCA and CIMA are similiar and considering the vast majority of ACCA members being in industry. Second tier bodies should be disolved and members of these should be given the opportunity to join AAT , the most recognised brand at their level.

Realistically how many ACCA members knew of this change of Logo before the announcement? ACCA has claim that it consults its members , why wasn't this put on the table for consultation. Perhaps Allen tenure as CEO needs to be examined!.

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By AnonymousUser
18th May 2007 14:08

The most innovative professional body
They ,or should i say we, are also very innovative when it comes to vocabulary

in their guide to services for uk practionioners they refer to services and things such as a

'Professional development matrix ' which is a unique planning tool

'Knowledge library' as opposed to an igorance library

'Ethics resources'

and a ' CPD evidence tool' instead of pen and paper or spreadsheet

i guess if you sit in a room with nothing to do long enough with a huge budget of some one elses money you end up doing daft things.

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By User deleted
18th May 2007 14:34

Waste Of Money
Terracotta is obviously the new black.

The redesign is almost on a par with say calling trainers Street or Jam.

Prefer the old logo myself.

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By Prem Sikka
18th May 2007 15:01

ACCA
It is now fashionable for organisations to rebrand themselves not by offering better services or value for money but by trying to change their image. The ACCA if following the same shallow path.

The £85,000 ego trip does absolutely nothing to bring about any improvements in accounting, auditing, professionalism, ethical conduct, services for members/students, value for money, better governance, tranparency and accountability. It is a waste of money. Neither will it help ACCA to win the lost markets in China and India.

But then ACCA chief executive can indulge in such excesses as he is not elected by members and members have no opportunity to scrutinise his performance. Come to think of it he is not an ACCA member either.
.

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By AnonymousUser
18th May 2007 16:01

I hope I am not wrong, but I thought
the 85 large was the total cost including new signage, promotion, changing stationery, letterheads and whatever else needs to be done when a logo is changed.

Are you saying they paid 85 large to a company called fitch to design this logo?
you can design simple little logos like that on-line for less than £25, probably less, as it is extremely basic.
A little box with the letters ACCA.

It's the same old story. When other people's money is involved, be it subscription fees, tax payers money, council tax money, it seems to get spent far more easily than money that is actually worked for and earned.

Fitch were unavailable for comment: quelle surprise, they were probably down the pub having a good laugh.


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By User deleted
18th May 2007 16:31

ACCA New Logo
I don’t see any problem with the previous logo that is a more refined design and better colour selection to reflect the conservative image of the profession than the new one.

I agree with Prem Sikka that ACCA should better spend the money on improving the reputation and influence of the body by committing itself in accounting research projects like AICPA or US FASB/GASB does instead of just changing its logo.

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By AnonymousUser
22nd May 2007 08:57

No Point In Merger!
It seems rather strange to me that people are still openly discussing possible mergers. As history has shown us, all past attempts at consolidation have achieved nothing except a significant reduction in members' funds which are held on their behalf by their professional bodies. I believe the last attempt by the ICAEW at a consolidation with CIPFA set their members back some £1.5 million!

Certainly, if the ACCA and the ICAEW had merged in the recent past their would have been no duplication in the cost of their new logos but on the whole I would agree with Prem Sikka in his commentary on the drawbacks of consolidation.

Anyway, who are the ICAEW going to merge with? The Scottish institute is to proud of its heritage as the first chartered institute to be interested in diluting it with a merger. CIMA would not now be interested in merging with the ICAEW after the row over ICAEW's attempts at trying to poach their members and the ACCA is certainly not interested in merging with anyone.

What possible benefit would a merger with the ICAEW, which is in long term decline, have on the ACCA which is increasing its student membership by 8% a year?

Certainly, in my practice I've notice over the past ten years that our graduate intake are more interested in following the ACCA qualification because they believe that it will give them 'international mobility' whereas the ICAEW qualification now seems only to be of interest to school leavers who have passed the AAT, as the ICAEW gives them far more exemptions!

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By David160
18th May 2007 17:17

We got it cheap!!!!
When BP changed their logo a long time ago, all they did was to round off the sharp corners of the shield. It cost them, £2million!!!!

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Richard Murphy
By Richard Murphy
18th May 2007 17:49

Anyone told them you can do this on Word?
That's where I designed my logo

It looks about as good

And took about half an hour

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Dennis Howlett
By dahowlett
21st May 2007 05:33

So what was the deal?
There is a more detailed explanation where the money went at ACCAs press office.

As an aside, I reckon the margin on this work was around £59K

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By Andy Reeves
21st May 2007 09:33

My response to ACCA
I received an e-mail from ACCA advising of the new logo, and this is my response to them.

Have you all gone stark raving mad? This is a pathetic waste of the members’ (not ACCA’s) money. Additionally, I will have to pay to have my own practice stationery reprinted.

Your attempts to convince me and the other members that this is a good idea by resorting to management-speak (e.g. “iconic quality”, “clear evolution”) are frankly insulting!

Thanks for nothing!

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By Prem Sikka
21st May 2007 11:10

Reply to L. Tec
ACCA does not publish budgets for the current or any future years. Members are neither given sight of this nor ever asked to vote to approval any plans. There was certainly no demand from members for the new logo. Members cannot raise such matters at the AGM either as ACCA does not have "Any Other Business". ACCA council can also hoist subscription increases of up 5% on members wihout any vote.

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By User deleted
21st May 2007 11:18

Splendid idea - very cost-saving too
If we adopt the idea of merging all professional accounting Institutes, then they pay only one cost.

This is the costing to justify the case for merger :

Members/Students of CIMA, CIPFA, ACCA, ICAS, ICAI, AIA, CPA Ireland totals up to a population of 277,000. Cost of logo design is only GBP 85,000. The per unit cost shall then be GBP 85,000 divided by 277,000 population. This means a unit cost of only GBP .30. Very cheap only!

Unfortunately, we can't include ICAEW inside the costing because they have spent GBP 65K earlier this year.

I hope this wonderful merger proposal of mine is not too late to be considered and adopted and implemented.

Please be serious.

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By AnonymousUser
21st May 2007 11:40

Prem Sikka
Now I am hearing another Institute to my disheartened list, Prof Prem. "The ONE" I had in mind also increase subscriptions without consideration of its Malaysian members' plight who are non-MIA members yet. Its Malaysian members do not earn MIA salary which is easily 50-60% more than non-MIA members. I don't know why their Malaysian members do not vote to kick out their HQ members as they form a much larger population.

With the earlier post seemingly in support of the hefty GBP 85K cost, I am totally against it.

The preceding post before Prof Prem's suggest a merger, which all would have known that I am for it.

Both these two posts amused me very much on such a very important and serious topic, maybe, to be added to the thread titled Accounting Jokes.

Because I am serious about it, this thread should be let to receive much more inputs, hoping that members of all those mentioned bodies in accounting can quickly consider a merger.


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By ALECP
18th May 2007 15:03

Awful
Fitch must be wetting themselves after getting £85k for that.

My 3 year old could be more inventive

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By User deleted
25th May 2007 16:24

ACCA spin doctors
"Kevin Reed, Accountancy Age, 24 May 2007
ACCA defends its expensive rebranding exercise, saying it is preparing for the internet age

ACCA has defended its global rebranding exercise after accusations that it has wasted members’ money, saying it now had a logo for an internet generation.

The institute has spent £85,000 on rebranding, which critics this week termed a 'substitute for improved services.'

ACCA marketing director Neil Stevenson said the old logo was designed before the internet revolution and was not suitable for the web."

ACCA's spin doctors are apparently working overtime to avert PR disaster. Nothing new adopted from ACCA is good!

Perhaps Professor Prem Sikka can comment on my next statement.

In the past 2 ACCA "engage " I have heard the ACCA CEO speak of ACCA maintian quality in exams.

However I have witness the following :

Firstly ACCA being rejected from direct mutual recognition agreement (it's graduates having to fulfil further requirements) with HKICPA despite being in the colony for decades.
Secondly in the recent agreement with CGA Canada I withness another disappointment, graduates who became members prior to 1998 are not require to have a degree to qualify to sit for the Canadian tax and law papers whereas those who became members after 1998 are required to. If the CEO believes that the current and new syllabus is better shouldn't the above be reversed. Prof Prem as academic and without prejudice what is your take on this matter?

My personal interpretation on this matter is that ACCA has indeed suffer a loss of quality especially considering it's no longer a standard exam at the final level. Nowadays all I hear from potential candidates who want to pursue ACCA is how easy the exams are.

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By AnonymousUser
27th May 2007 18:02

Come on students
It's obviously capital expenditure and superb value for money. 100 marks. Discuss using not more than 20 words (including your name).

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By User deleted
28th May 2007 09:40

Prof Tot
Go start your own discussion thread. As far as I am concern if you have dug yourself in a hole get yourself out.

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Dennis Howlett
By dahowlett
25th May 2007 21:18

Mixing and muddling
I see our Malaysian friends are mixing and muddling issues. This has nothing to do with mergers or standards of qualification. It has to do with how member resources are used. In this case on a logo.

Having said that, the extract from Kevin Reed's post amply demonstrates why mainstream media is so poor at dealing with issues. Kevin is a reporter of record and cannot comment. I will.

Given that I know Kevin comes to this site and my own, why did he not press Niel on the horse crap that passes for reality. A logo is a JPEG file. It is nonsense to say it wasn't suitable for the Internet Age. But let's qualify that?

Are we talking design, calligraphy, font, what? We may never know. What we do know is that the old saying still holds true - BS really does baffle brains.

Well done ACCA.

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By AnonymousUser
28th May 2007 05:44

Similar story for this body too, Matthew, ........
....when you posted "The institute has spent £85,000 on rebranding, which critics this week termed a 'substitute for improved services.'"

Their ("this body") previous financial reports say much travelling was done, but to see improvements and recognitions in this far east country after 13 years, is still unclear as of todate. WHY?

They talked about those lucky ones having achieved high status positions as testimonial of their high achiever members, but they have already achieved such status positions long ago before they become members of this body. Like someone quoted in one of the threads, some members of CPA (A) who thought of an extra membership qualification would not go for this body with much travelling expenses (at one time) and sky high directors' remunerations (now not found in their financial statements after comments were heard). How can the directors' remunerations be hidden somewhere in the financial statements not to the knowledge and visibility of the financial readers? If any association does that after reports/comments were heard, this purely confirms that association as contruing to the truths of the reported matter - high directors' remunerations.

So to speak, this body's members earning non-MIA salary scale in this far east country continued to remain dull minds without hope of recognitions. Also, themuch said reported audit recognition announcement many many months ago was not heard as being approved as of todate. What a sad story.

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By deanshepherd
29th May 2007 12:22

Money well spent..
Not the popular view I must admit, but I think it is a vast improvement.

The old logo looked surprisingly outdated, even though it was only 7 years old.

It also looked really poor on screen, whereas the new logo is much easier on the eye.

As for the costs involved, well that's just relative. My firms logo was produced on a budget and it satisfies my objectives. If I employed a professional to produce a logo then I have no doubt it would be significantly better, even if only subtle changes were made.

I think £85k for a rebranding exercise for a global organisation is pretty competitive. As someone who acts for a number of designers, the key reason for clients being unhappy with an end result is due to insufficient time spent with the client learning exactly what they want and need from a logo.

The time spent will incur considerable staff costs for Fitch and I don't suppose they are 'laughing all the way to the bank' as is being suggested. Creating a good logo requires continual communication and reassessment throughout the creative process.

I would like to see anyone recreate that font in Word.

If you are unhappy with the way your association is being run or the decisions that are being made by your democratically appointed council members then that really is a separate issue.

Of all the recent rebrands (ICAEW, ACCA and AAT), I think the ACCA has shown the most marked improvement. ICAEW had to get rid of all the writing and, although the original logo was fine, the new one is pleasing on the eye. AAT had an equally poor logo and I don't think the new one really hits the mark (what is that equals sign all about?!) but an improvement nevertheless. For what it's worth, ICAEW had the better looking logo both before and after this rebranding malarchy.

Just my two penneth..

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