ICAEW considered student contest to save money on rebranding

The ICAEW considered launching a competition among art school students to
design its new brand, Accountancy Age has learned.

When proposals to revamp the institute’s image were revealed, several plans
were suggested. ‘One was the Consignia route, paying buckets; another was to
approach art colleges,’ an institute source told Accountancy Age,
referring to Royal Mail’s ill-fated rebranding.

An art student could have won a prize of several thousand pounds, meaning the
institute would have paid less to get talented individuals to redesign its crest
and brand.

An ICAEW insider said the art college option would have been a much cheaper
alternative. But the institute opted for the professional rebranding option,
hiring an agency to look at its image and budgeting for £65,000.

The move has angered some members hostile to the institute’s executive,
alongside complaints about the spending on the merger last year, which cost the
body more than a million pounds.

The rebranding is set to be unveiled by Michael Izza, the body’s new chief
executive and former chief operating officer, whose appointment was announced
last month.

One member of the council said the art college option might not have been
cheap in itself, citing the cost of an EU rebranding exercise carried out along
similar lines. The institute declined to comment.

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