Promoting Professional Standards

Providing regular and timely input to the European and international standard-setting process in order to help ensure the stability, relevance, scalability and proportionality of European and international professional standards for SMEs and SMPs.

EFAA’s Accounting Expert Group (AEG) and Assurance Expert Group (AssEG) meet regularly to develop responses to public consultations and exposure drafts, as well as interventions at meetings and events, relating to new and revised European and international professional standards. Professional standards include those in relation to financial and sustainability reporting, audit and assurance, ethics, and quality management.

Below is the archive of events and of responses to public exposure and consultations policy positions and responses to public consultations and exposure drafts, primarily to the EFRAG, IAASB, IASB, and IESBA, is here. A compendium of all key positions, including those relating to European and international professional standards, is available here.

The AEG is chaired by Richard Martin, Head of Reporting at ACCA and the members are listed here.

The AssEG is chaired by Paul Thompson, EFAA Director and the members are listed here.

EFAA Response to the EFRAG’s Joint Consultation on the lASB’s Third Agenda Consultation and on EFRAG’s Proactive Research Agenda
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EFAA Response to the IASB Request For Information Third Agenda Consultation
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EFAA responds to IAASB Survey Consultation — The IAASB’s Work Plan for 2022‒2023
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EFAA Responds to the International Ethics Standards Board for Accountants (IESBA) Exposure Draft: Proposed Revisions to the Definitions of Listed Entity and Public Interest Entity in the Code
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IESBA Exposure Draft: Proposed Revisions to the Definitions of Listed Entity and Public Interest Entity in the Code
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EFAA Response – Request for Information: Comprehensive Review of the IFRS for SMEs Standard
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Response to the IAASB’s Exposure Draft (ED), Proposed International Standard on Auditing 600 (Revised) Special Considerations – Audits of Group Financial Statements (Including the Work of Component Auditors)
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Response to the IESBA’s Exposure Draft, Proposed Revisions to the Non-Assurance Services Provisions of the Code
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Response to the IESBA’s Exposure Draft, Proposed Revisions to the Fee-related Provisions of the Code
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Response to the IAASB’s Discussion Paper, Audits of Less Complex Entities: Exploring Possible Options to Address the Challenges in Applying the ISAs
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Response to the IAASB’s Exposure Drafts for Quality Management at the Firm and Engagement Level, Including Engagement Quality Reviews
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Response to the IAASB’s Proposed Strategy for 2020–2023 and Work Plan for 2020–2021
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