Small- and medium-sized enterprises (SMEs) are crucial to the future economic and social prosperity and stability of Europe. Due to their limited resources and technical accounting and finance expertise they rely heavily on external support.
Small- and medium-sized accounting practices (SMPs) often play this vital role in supporting SMEs through the provision of a range of high-quality professional services. We cannot forget that the vast majority of SMPs are themselves SMEs. As a result, SMPs not only serve as the primary advisors to SMEs but also face the same challenges, opportunities, and problems in their daily operations.
This document summarizes this vital role SMPs play supporting SMEs and then outlines EFAA’s key positions and recommendations to policy makers and professional accountancy organisations (PAOs), such as EFAA member organisations, to help SMPs better fulfil this role.
This publication is the result of the invaluable and continuous support from our member organisations, the experts, the Special Advisors and the member of the EFAA Board of Directors. A special thanks goes out to all of them for their contributions.
