AFA OOD was established in May 1991 as one of the first professional accounting, finance and auditing firms in Bulgaria.

The partners of the firm have extensive theoretical and practical experience as auditors and consultants in the area of corporate finance, tax, corporate and employment law, international accounting standards. They are Certified Public Accountants and members of the Bulgarian Institute of Certified Public Accountants. The partners are licensed by the Bulgarian National Bank and the Insurance Supervision Agency for the performance of audits of banking and insurance institutions.

Over the years AFA has been developing and has become the biggest local audit and consulting firm in Bulgaria.

The AFA partners have participated entirely in the design, introduction and development of the new Bulgarian accounting and audit legislation and profession following the changes in Eastern Europe, which started at the end of 1989. In this relation an important project in which they have participated together with Copers & Lybrand is "Adaptation of the National Accounting Standards to the International Accounting Standards applied in the banking sector", funded by the German government, approved and highly appreciated by the Supervisory Board of the Bulgarian National Bank (1997). They are founders and active participants in the establishment and development of the Bulgarian Institute of Certified Public Accountants.

AFA has participated in a number of privatisation projects of large multinational investors in Bulgaria: Kamenitza and Astika Breweries for Interbrew; Ariana and Zagorka Breweries for Heineken and Hellenic Bottling Group; Beloizvorski Cement for Holderbank; Drujba and Stind for Frigoglas; the establishment of the bottling companies of Coca-Cola in Bulgaria for Hellenic Bottling Company, Vazhod Trudovetz for Grammer, Agorpolichim for Norsk Hydro, etc. On many occasions the firm has participated in joint projects with Deloitte & Touche, Coopers & Lybrand and Price Waterhouse, Ernst & Young (particularly intensively in 1997).