Focusing on SMEs through SMPs
The European Federation of Accountants and Auditors for small and medium-sized enterprises (EFAA for SMEs) is an umbrella organisation for national accountants and auditors’ organisations whose individual members provide professional services primarily to SMEs within the European Union and Europe as a whole. It was founded in 1994.
EFAA for SMEs has 15 members throughout Europe representing over 400,000 accountants, auditors and tax advisors.
EFAA for SMEs is a member of the association of crafts and SMEs (SMEunited) and a founding member of the European Financial Reporting Advisory Group (EFRAG).
SMEs are the backbone of Europe’s economy, and small- and medium-sized accounting, auditing, and tax advisor practices (SMPs) are their most important provider of compliance and advisory services. SMPs help SMEs and entrepreneurs produce high quality financial information to help them better manage their business and gain the trust and confidence of stakeholders. Furthermore, they help SMEs gain access to finance and they provide them with business advice that enables them to grow sustainably. In the coming years, as the EU executes its new industrial strategy to lead the twin transitions towards climate neutrality and digital leadership, SMPs will play a key role in helping SMEs stay at the forefront of this transition.
EFAA, the voice of SMPs in Europe, strives to speak out to influence regulators, policy makers, standard setters, and other key stakeholders in the EU, and where necessary globally. The end goal is to promote the role of SMPs as well as ensure that regulation and standards are proportional and scalable and that there is a level playing field in the market for professional services.