At the ICAC's Directors' meeting held January 2004 in St. Lucia, the Board approved the adoption of a flag. It was felt that this would enhance the brand identity of the Institute and emphasize the unity among the Member institutes of the ICAC. It is intended to communicate each member's allegiance to and forge a singleness of purpose.

The job of a flag is to focus attention on its origin in its most simplest, quickest and potent manner, preferably through the use of a single powerful image rather than several elements, thereby not diluting the potency of the symbol. We recognize that there are many mediums for embroidering the layers and textures of our history. Our belief is that the flag and the use of our logo as it's central theme, offer's visibility, instant recognition and emotional fulfillment.

In selecting the design, two main factors were considered:

• That the flag be easily identifiable with the Institute by its member bodies and the general public, and
• That the flag be very dignified.

These objectives were accomplished by ensuring that the Institute's logo took prominence in the design, hence its' appearance in the centre of the flag and this also assists in members' easy recognition of the flag. The placement of the ICAC's logo in the centre of the flag is representative of the fact that the ICAC is an organization that encapsulates the geographical boundaries of the many Caribbean islands, and unites its accounting professionals under one banner. It also represents the equality amongst the member institutes of the ICAC.

Significance is attached to various colours and images used on flags. The blue background of the ICAC's flag represents the sky and rich Caribbean Sea, which binds the region together as one. Blue is also often associated with depth and stability. It symbolizes trust, loyalty, wisdom, confidence, faith and truth.

Blue is considered beneficial to the mind and body, since it slows human metabolism and produces a calming effect. Blue is also strongly associated with tranquility and calmness and in heraldry, blue is used to symbolize piety and sincerity. Being the only colour in the background, it's symbolic of the way in which the ICAC has embedded itself as the axis of unification of the region's accounting profession. The owner of DeZyne Studio, E.S. King crafted the flag design.