The last one includes, among its sub-goals, `prefix and logo for members'. Not many are aware that CAs can use the letters CA as prefix to distinguish themselves from the non-CAs in their midst. For instance, I can be known as CA D. Murali, by virtue of the new design of the Institute, though it can misleadingly suggest that I do computer-aided design.

My sympathies, therefore, to all the new CABs, CANs, CAPs, CARs and CATs that would be created among the freshly-prefixed professionals. One other confusion is whether we're duplicating what's already coming as suffix, be it in ACA or FCA.

Wishing that these quirks arising from prefixes would get fixed in due course, let's look at the other thing, the logo. Isn't there a logo, already, you may ask? Yes, there's the eagle with a Vedic line as a motto, though some say that the bird is an owl because it's the one which never sleeps when others are awake. But that's the logo of the Institute, and individual CAs may not be permitted to affix the same on their stationery or office walls.

As per the code of conduct that governs CAs, no logo is permitted, because that will tantamount to advertising. Which is why Manoharan argues that the Institute should do what the individual CAs can't — that is, advertise. For instance, "Publicising the contribution and accomplishment of the profession," is a subordinate goal in his brand building mission.

He is busy working on a logo, possibly sifting through a bunch that the advertising agencies should have created. It is quite probable that Manoharan doodles, during idle moments in meetings, new designs to capture the spirit of the profession; or sculpts in solitude images for the dream identity he's after, for it's always alone at the top.

"Identity is a huge issue for kids," says Jim McKay. But Christopher Eccleston avers, "We all need a firm sense of identity."

I'm sure that the ICAI president will concur with Gavin Newsom, who said, "The arts give us our identity as a community; they also draw new people, fresh visions, and renewable economic opportunity to our community."

I guess, we should start working on a special ring tone too! Or, should we leave that for the next president?

Flight of DEAMS

DOORSTOPPER news in the accountants' world is not just Livedoor — the company whose executives "became addicted to an easy-money financial scheme of combining stock swaps and splits", as The Daily Yomiuri, Japan, reports.

Unfolding developments are that in an ongoing trial, prosecution witness has said that Enron accounting looked odd, as www.news8austin.com states; that China has signed a joint statement with the EU (European Union) to promote accounting standard, as Xinhua informs; and that race and perception still impact the careers of people of colour working in the accounting industry, according to National Association of Black Accountants, as www.webcpa.com reports.

For the IT-savvy, here's a snatch from http://accounting.smartpros.com, citing Dayton Daily News, Ohio: "Accenture will tailor commercial software supplied by Oracle Corp. for the Defense Enterprise Accounting and Management System (DEAMS) program, an integrated accounting and finance system."

The software is for the use of the Air Force, the US Transportation Command and the Defense Finance and Accounting Service, and the value of the order is $79.5 million. "Last year, the Army awarded it a $431 million, 10-year contract to develop, operate and maintain a financial system," informs the report.

Continuing weaknesses

VISIT the PCAOB (Public Company Accounting Oversight Board) site (www.pcaob.org) for the new Auditing Standard No. 4 titled `Reporting on Whether a Previously Reported Material Weakness Continues to Exist.'

This has recently been approved by the Securities and Exchange Commission (SEC). Be warned, though, that the document runs to 358 pages.

AccountSpeak@TheHindu.co.in

D. Murali

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