The Association of Professional Financial Managers (APFM) was established in 2007 as a non-for-profit legal entity with the mission of developing the accountancy profession. In 2019, following the adoption of a new Law on Accounting that introduced regulation of the accounting profession, APFM was acknowledged as a professional accountancy organization (PAO) for chief accountants, financial managers, and other professionals with the responsibility of supervising the professional activities of its members, representing their interests, and providing expert advice to other stakeholders involved in policy development. By end of 2023, qualification as a Professional Accountant and membership in an accredited PAO is mandatory for all chief accountants. APFM organizes the pre-requisite education programs for obtaining a Professional Accountant certificate, offers several other specialization certificates, organizes seminars, information exchanges, and round table discussions, both nationally and internationally. APFM is a member of the European Federation of Accountants and Auditors for SMEs.