First Maltese DIFR graduates

Three team members of the accounting firm MGI Malta have become the first Maltese professionals to obtain the Diploma in International Financial Reporting (DIFR). Conrad Borg, Doreen Calleja and Neville Cutajar have earned their diploma after successfully completing a programme, organised by the Association of Chartered Certified Accountants. The International Financial Reporting Standards (IFRS) have been adopted by the European Union, Russia, South Africa, Hong Kong, Australia and Singapore.

The DIFR diploma is designed to develop an understanding of the concepts and principles, on which international financial reporting standards are based. Practitioners gain practical knowledge of IFRS application in the international marketplace.

"In an increasingly global world, the perspective is shifting from national to international financial reporting. The intention is to increase transparency and comparability of financial reports across the world," George Farrugia, MGI Malta director and partner, said.

MGI Malta embraces this IFRS development and provides extensive educational support to its team members. MGI has created a fully IFRS compliant module for automatic and instant production of financial statements using the Sage Accounts Production software. This module is now being marketed both locally and overseas. For more log on to www.mgimalta.com