The European Securities and Markets Authority (ESMA) is an independent European Union (EU) Authority. It was founded in the year 2011 and is located in Paris. The main purpose of the ESMA is to improve investor protection and promote stable, orderly financial markets. In addition to the above-mentioned aims, ESMA also oversees compliance with measures adopted by authorities for responsibility for securities and capital markets supervision and adoption of emergency measures in crisis situations.

Another role of the authority is to oversee consistent application of International Financial Reporting Standards (IFRS) and the harmonisation of practices across Europe.

At the official website of the authority (www.esma.europa.eu), you can find regular articles focusing on review of accounting procedures in relation to the development of specific markets and changes in accounting principles.