An expanding and vibrant SME sector is often a vital ingredient for sustained success in economic and social development for emerging economies. SMEs need to overcome common impediments on their path to improved performance and growth. For example, SMEs are often unable to access the additional financial capital and relevant skills they need to grow their businesses. Furthermore, they are often disproportionately burdened by new regulation. The CFRR works with Professional Accounting Organizations (PAOs) to build their capacity to support their members that provide core accounting and auditing and business advisory services to SMEs and to improve the awareness and role of the accounting profession in an active business support ecosystem. The CFRR, in collaboration with PAOs and others, may also work directly with professional accountants and small and medium-sized practices (SMPs) to improve their skills to comply with new SME financial reporting and auditing requirements and to provide SME financial management and business advisory services.