MGI Worldwide has joined the Forum of Firms, effective 1 January 2019.
Membership of the Forum demonstrates a firm’s commitment to quality of audit and financial reporting among member firms. The objective of the Forum is to promote consistent and high quality standards of financial reporting and auditing practices worldwide.
MGI Worldwide CEO Clive Viegas Bennett said: “The extensive joining process included a very thorough review of our audit quality assurance processes. Membership of the Forum of Firms represents the logical extension of our strategy to improve the consistency of member quality worldwide.”
MGI said that it will help its member firms in developing regions as it demonstrates their commitment to high quality audit when competing with other firms for international work with global institutions and NGOs.
For members in more developed regions, MGI said its membership in the forum allows it to ‘engage constructively on global regulatory developments in the context of audit quality’.
Bennett added: “We now get a seat at the Forum table with approximately 30 other international networks. We have already contributed, with fellow Forum members, to discussions with the International Auditing and Assurance Standards Board about their work on quality control, as well as other standards and codes. The Forum and the standards setters welcome the input of mid-tier networks – membership of the Forum enables us to contribute even more.”