New name for auditing firm

The accountants and auditors firm George Farrugia & Co is to change its name to MGI Malta on March 1.

The company was established in 1988 and in 1993 became a member of MGI, a worldwide association of independent accounting and consulting firms with a network of 280 offices in over 70 countries.

In June 2000, George Farrugia & Co hosted MGI's European Conference in Malta, grouping over 50 delegates from 20 countries.

MGI grew from the association of the UK firm of Midgley, Snelling & Co, which have been in the practice since 1947. Today, MGI incorporates 260 member firms who all benefit from the international network of experts that such an association represents. Having the combined knowledge of 450 partners and 3,250 staff worldwide is also of great benefit to the members' clients who have access to all the professional services, advice and information available from all MGI firms worldwide.

"When our firm was established, my initial goal was to provide the best personal service possible to a niche of local SMEs that wanted a one-stop shop service. With the sophistication that was brought about by the introduction of financial services legislation, the VAT Act and the Companies Act, we had to review the way we operated and the range of services we provided to our clients. Our client portfolio has also changed substantially and today around 20 per cent of our business is generated internationally and our membership in MGI has therefore become increasingly more relevant. When operating in the international market, an internationally recognised name is obviously of great help. Therefore the rebranding of our image was the most logical step to all partners," Mr George Farrugia said.

He thanked his partners, Franco Azzopardi and Nicholas Falzon, for their contribution.