SMEs & SMPs

Memorandum of Understanding with EFAA – the European Federation of Accaountants and Auditors for Small and Medium Sized Enterprises

On the 26th of September 2011, the presidents of FCM and EFAA signed a Memorandum of Understanding (MoU) between the two federations.

Both FCM and EFAA are committed to making sure that all the constituent parts of the profession are properly represented at regional, international and regulatory levels.

The two organisations share the same basic values and principles; they support diversity and inclusiveness and are both engaged in, and committed to, promoting a strong accountancy profession based on the international auditing, ethical, education and accounting standards issued by IFAC and IASB.

EFAA and FCM share the view that the SMEs sector is currently not sufficiently addressed by the agendas of international organisations and they therefore agree to embark upon specific initiatives, both internationally and regionally, in order to ensure that the SMEs sector enjoys proportionate priority in terms of regulatory developments.

In light of these shared values and commitments FCM and EFAA have signed the Memorandum of Understanding, which will serve as a foundation from which to co-operate in developing a common strategic approach to strengthen the capacity of SMPs, and for the promotion of specific initiatives that address the SMEs sector.

To see the full document please use the link below.