IFAC’s SMP activities are supported by the Small and Medium Practices (SMP) Committee, which was established in in 2005. The SMP Committee is comprised of 18 volunteers, including a chair and deputy chair, who represent a broad range of geographies and professional backgrounds.
As a strategic advisory body of professional accountants, the SMP Committee supports IFAC’s work in three main activity areas:
- Standard Setting—providing regular and timely input to the international standard-setting process in order to help ensure the stability, relevance, and proportionality of international standards to SMEs/SMPs;
- Resources and Tools—developing and sharing practical guidance with a focus on implementation of international standards, practice management, and business advisory services; and
- Speaking Out—promoting the visibility and recognition of SMPs and representing and advocating on behalf of SMPs and SMEs worldwide.