1 April 1991 – the new Accountancy Act following the changes in 1989 entered into force

14 May 1991 – registration of AFA at court

In the spring of 1992 AFA started working in a joint operation with Deloitte & Touche, which continued till the end of 1993.

During the period 1994 – 1996 the activities of AFA expanded and the firm established itself as the auditor and consultant of some of the biggest local and international companies in Bulgaria. In that period AFA collaborated on joint projects with Coopers & Lybrand.

AFA was building also its own home, the offices at 38 Oborishte Street, which the firm moved to in the end of 1999.

The cooperation of AFA and Ernst & Young started in the autumn of 1997. The joint firm Ernst & Young AFA was registered in April 1999 and operated by the end of 2002. Its Managing Partner was Renny Iordanova.

Since October 2002 AFA has been operating on its own again, keeping its team of key experts with whom the firm started its activities in 1991.

Since 2003 to date AFA has been enriching its business and the firm’s team grew from around 40 members to over 100 nowadays. Our new and expаnded projects and services are in the fields of financial consulting, carrying out contractual procedures under the Commercial Act in connection with enterprise restructuring, advisory and specialised payroll service for management personnel of clients, consulting on and implementation of integrated business solutions (ERP systems), risk assessment in operation with and efficiency of information systems.

We have been working intensively with law firms in Bulgaria, mainly with Dimitrova & Partners. Some of our engagements are on joint projects with international consulting companies.

AFA has built its second offices at 119 Oborishte Street in Sofia, the inauguration of which will be part of the events on the occasion of our 20th anniversary.