The UAAFWFBH is a non-governmental, non-profit, professional association that was established by three professional associations in 2003. Membership in the union is mandatory for all certified professional accountants. UAAFWFBH members provide a variety of services in the fields of accounting, finance, audit, tax advising, and appraisal of economic value of property. The UAAFWFBH was granted the status of an authorized professional accountancy body in 2005 by the Accounting and Auditing Commission of the BiH. In addition to being a member of IFAC, the UAAFWFBH since December 2015 is a member or Accountancy Europe.