Ernst & Young Malta foresees expansion
by Franco Aloisio
As from this month, the accountancy firm Mizzi, Scerri, Said & Co. has changed its name to Ernst & Young, the brand name of Ernst & Young International.
"Being part of Ernst & Young International means that we are among the top five accountancy firms in the world," the managing partner of Ernst & Young Mario P. Galea said in an interview with The Malta Business Weekly.
"The internationalisation of our firm will bring to Malta increased opportunities from international business, while local business will go up to international standards," he said.
"We expect expansion on both local and international fronts. As a result of becoming Ernst & Young, we will have to seek additional resources to be able to meet the demand of bigger clients.
We think Ernst & Young will increase its presence in the local market." In the last four years, Mizzi, Scerri, Said and Co. increased threefold its turnover and workforce. At present, the firm employs 60 people.
Mr Galea said the company has already undergone considerable restructuring during the past three years, when Mizzi, Scerri, Said & Co. was appointed technical assistance firm to Reconta Ernst & Young in Italy - a member firm of Ernst & Young International.
"This gave us the necessary foundations to become an internationalised firm. It led us to this year's full membership.
"As a result of the changes we have implemented, the company has already this year expanded its business," Mr Galea said.
He said the impact of Ernst & Young in Malta will be a very important one. Apart from placing Malta on the international firm's map, the presence of Ernst & Young in Malta proves that the country can further attract important clients and companies worldwide.
"However, we should not forget our roots. Although we will be expanding, Ernst & Young should still continue offering a personalised service to its clients," Mr Galea said.
Mizzi, Scerri, Said and Co. was set up in 1984 by three accountants - Lino Mizzi, Michael Scerri and Martin Said - who were partners in a leading Maltese accountancy firm.
In 1996, Mr Galea joined the company and introduced the idea of the company becoming a member of Ernst & Young International. Mr Galea himself had spent 15 years working with Ernst & Young in Libya.
The first managing partner is Mr Galea. The other partners of the firm are Michael Scerri, Martin H. Said, Richard W. Giorgio, Andrew Galea and Ronald Attard.
The company will be offering a complete array of services including auditing, accountancy, management consultancy and taxation.
Ernst and Young International has 700 offices worldwide, employing 80,000 people. The company came into being in 1989 after the merger between Ernst & Whinney and Arthur Young.
Ernst & Young prides itself of servicing around 25 per cent of the top 500 companies in the world.
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