EFAA holds its Annual General Meeting (AGM)

EFAA approves the annual accounts, the management in 2019 and the Activity Plan July 2020-December 2021, welcomes a new member and reappoints four Board Members

Brussels, 26 June 2020 - EFAA’s Annual General Meeting (AGM), one of the most important activities or events for an organization, was, for the first time ever, held by video conference. This time, members came together on the MS Teams platform to, amongst other things, receive a presentation on the federation’s activities and financial performance in 2019, approve a new ordinary member and reappoint four Board members.

One of the highlights of the meeting was the admission of a new member. EFAA unanimously approved the admission of the Chamber of Financial Auditors of Romania (CAFR) as an ordinary member. CAFR has over 4,000 members and its current president is Ciprian Teodor Mih?ilescu, PhD. The organisation was founded in 1999 and represents the audit profession in Romania. Since the transposition of the Audit Reform in Romania in 2017, CAFR has been the competent authority for all financial audit activities in Romania, excluding statutory audit.

We strongly believe that, in the future, EFAA will have even more members. EFAA’s influence keeps growing and its specific and unique role is more and more recognised. The organisation has been and is working as the major voice for SMPs, who are the primary advisors of SMEs in Europe. Its

EFAA also reappointed 4 Board members, Maurice Buijs, NBA – the Netherlands, for a 1-year mandate and Carlos Menezes, OCC – Portugal, Aleksander Štefanac, CCIS-CAS – Slovenia, and Marcus Tuschen, DStV – Germany, each for a 2-year mandate.

As for the activities of the organisation in 2019, EFAA had a particularly productive year, as demonstrated by the high number of activities including events, articles, position papers and comment letters, rate of participation at meetings and speaking engagements, more than in any previous year. EFAA continues to deepen its relations with key stakeholders, including relevant directorates at the European Commission and Members of the European Parliament, EFRAG and SMEunited. EFAA also continued to develop its communication and visibility with members and key stakeholders. Salvador Marin, EFAA President, noted that “In 2019 we did more with less and were able to increase reserves. This is a testimony to EFAA’s efficiency and effectiveness as well as the support of our members. We have successfully adapted to the challenges posed by the coronavirus. We have a suit of resources for SMPs and issued a position statement on the implications of the crisis for the profession, we provide regular updates to our members and their SMPs via the Latest from Brussels and are holding series of member only webinars. Our voice as the champion of SMPs and medium and small size professional firms across Europe continues to grow.

In general, in line with the EFAA strategy, Salvador Marín stressed that “the organisation is working intensively to inform and connect with partners and stakeholders to highlight the high quality of services provided by small and medium-sized accountancy practices (SMPs), as well as to strengthen its position as the leading advocate for SMPs and SMEs in Europe. This is its unique role and it is necessary to communicate and share it”.