The characteristics and advantages of small and micro businesses make the accounting agency become a common phenomenon in the enterprises. This paper uses the game theory to analyze the game relations in accounting agency activities in the small and micro enterprises, and finds that accounting agency would bring many kinds of risks for the related subjects, such as the risks on finance, business management, reputation, economic interests,tax lose,and etc. The causes of risk formation are revealed, including mutual benefits in terms of game theory, the defects of accounting agency mechanism, the imbalance of information between clients and the accounting agency, the low entrance qualification for the accounting agency and the lack of professional skills for the staff. Then, the proposals for how to manage the risks are given. The proposals include to sound the laws and regulations on accounting agency, to establish accounting agency access mechanism, to perfect internal control system of enterprise and to strengthen government management and supervision on accounting agency.