Bibliographie sélective OHADA

Derrière les controverses qui jalonnent l’histoire de l’idée de Constitution économique émerge la question éminemment politique de la marge de manœuvre laissée aux autorités publiques dans la sphère économique. La notion cristallise ainsi une tension fondamentale : entre démocratie et État de droit, quel doit être modèle d’organisation et d’ordonnancement juridique de l’économie? Des physiocrates aux néolibéraux, de la République de Weimar à l’intégration européenne, des constitutions nationales à la Global Governance, cet ouvrage collectif nous invite dès lors à explorer la généalogie du concept polémique de Constitution économique. Les auteurs ouvrent alors, à travers un dialogue interdisciplinaire constant, une réflexion globale autour des enjeux juridiques et politiques du processus actuel de constitutionnalisation de l’ordre de marché en Europe.

Conséquence de la compétition que les États se livrent pour attirer le maximum d’investisseurs, la mise en concurrence des systèmes juridiques nationaux s’est traduite par une libéralisation continue du droit qui a eu un effet direct sur l’idée de Constitution économique. Celle-ci a non seulement vu son épaisseur normative se renforcer du fait de la neutralisation des dispositifs juridiques dirigistes mais elle s’est également universalisée en raison de la conversion de la quasi-totalité des pays au dogme de « l’attractivité ». Toutefois, ce mouvement généralisé vers le tout libéral commence à être remis en cause sous l’effet de facteurs divers qui se traduisent par une demande sociale et politique pour plus de régulation étatique. Il en résulte à la fois un regain de l’unilatéralisme qui affecte la force des principes qui sous-tendent l’idée de constitution économique et une prise en compte plus affirmée des valeurs et intérêts collectifs qui altère la substance de ces principes.

Cette thèse compare la performance des coopératives de travailleurs (SCOPs) et des entreprises conventionnelles (ECs). Ces entreprises diffèrent par leur distribution des droits de propriété et leur mode de gouvernance. Au sein des SCOPs, les travailleurs ont le contrôle ultime de leur entreprise. Les SCOPs instituent la démocratie dans le monde économique et, à cet égard, furent et sont encore défendues par des économistes appartenant à une large palette idéologique. Malgré leur attractivité, les SCOPs représentent une fraction minuscule des entreprises dans le monde. Cette thèse entend apporter des éléments nouveaux pour comprendre la rareté des SCOPs. Le Chapitre 1 étudie comment l’interaction des coûts échoués en capital et en travail impacte la probabilité de créer une SCOP. Je montre que la probabilité de créer une SCOP est maximale lorsque le coût échoué en travail est dominant et que le coût échoué en capital négligeable. Le Chapitre 2 compare les profils de survie des SCOPs et des ECs. Je montre que les SCOPs survivent plus longtemps que les ECs indépendamment du fait que leurs ressources à l’entrée diffèrent ou non. Je montre aussi que certaines caractéristiques de l’entrepreneur différemment la survie des SCOPs et des ECs. Le Chapitre 3 compare les profils de survie des SCOPs en distinguant quatre modes d’entrée (les SCOPs nouvellement créées, les reprises d’entreprises saines, les reprises d’entreprises en difficulté et les reprises d’organisations à but non-lucratif). Je montre que les reprises en SCOPs survivent plus longtemps que les SCOPs nouvellement créées. Dans l’ensemble, cette thèse suggère que la rareté des SCOPs est due à des barrières à l’entrée spécifiques aux SCOPs plutôt qu’à leur prétendue moindre performance vis-à-vis des ECs.

The way of doing business has changed significantly since the turn of this century due to the growth of internet technology and the global digital economy. This growth has reduced the importance traditionally attached to tangible assets and physical location in both commerce and taxation. This implies that any country that relies on physical presence to trigger tax liability in today’s digital economy may be forced to reconsider the relevance, effectiveness, and efficiency of its income tax legislation. This thesis postulates that South Africa’s income tax law and the international taxation principles it relies on in taxing cross-border and digital transactions have not grown in tandem with the changing landscape of today’s digital economy. The thesis contends that South Africa will not receive its fair share of tax from giant multinational enterprises such as Google, Facebook, and Amazon which operate and trade in the country, if it does not amend its income tax laws to address the challenges posed by the internet economy. In examining the challenges posed by the internet economy to South Africa’s income tax regime, the thesis commences in Chapter 2 by discussing the growth of the digital economy and its implications for South Africa’s income tax system. Chapter 3 offers a critical analysis of South Africa’s income tax laws and the international principles on which they rely in taxing the digital economy. Chapter 4 discusses the measures that South Africa’s government has taken to tax its digital economy, while Chapter 5 compares how the Organization for Economic Cooperation and Development (OECD), the European Union (EU), Kenya, India, and New Zealand have dealt with the issue of taxing the digital economy and the lessons to be learned from these jurisdictions. The thesis concludes in Chapter 6 by proposing recommendations that South Africa could consider to make its income tax regime more efficient and effective in taxing transactions that take place in today’s digitised economy.

In South Africa, minibus taxis are a crucial mode of public transport for many commuters and a vital informal business sector with an estimated value of R90 billion. Concerns have been raised that the South African Revenue Service (SARS) is not collecting the optimal amount of tax revenue from this industry, with estimated tax collection at only R5 million in 2021.  As a result of concerns that this industry might be involved in tax evasion or massive tax avoidance, this study investigates the taxation of minibus taxis in South Africa and explores alternative tax regimes that could be implemented to improve revenue collection. The study compares the current South African turnover tax system for minibus taxi operators to other African tax systems and evaluates a viable alternative tax regime or tax collection system. To improve tax collection from the industry, South Africa could consider a tax system tailored to the industry’s informal nature, utilising metrics such as vehicle seating capacity or distance travelled. A standardised tax system for small, medium, and micro enterprises may not be suitable. Consultation with industry stakeholders is essential for the proposed tax system to be acceptable. The study’s findings could inform South Africa’s National Treasury in creating a tax structure or collection scheme targeting the minibus taxi industry. This could increase tax revenue collection from the industry and support government expenditure, including income and wealth redistribution. This study distinguishes itself from prior publications on the South African minibus taxi industry by addressing tax compliance and collection challenges. It offers recommendations for alternative tax regimes to mitigate these challenges.

L'automatisation et la numérisation redéfinissent l'ergonomie des comportements humains. En se limitant au domaine maritime, les nouvelles technologies permettent d'automatiser entièrement l'activité traditionnelle de la navigation ; aujourd'hui, les navires peuvent être contrôlés depuis le rivage et l'intervention humaine dans la boucle de décision n'est plus nécessaire.Cette innovation disruptive offre de grandes opportunités pour l'industrie maritime. Intuitivement, les profits tirés du transport de marchandises et de personnes en mer peuvent être maximisés ; la réduction ou l'absence d'équipage à bord entraîne une réduction considérable des coûts pour les opérateurs (et pour les consommateurs), surtout en cette période historique marquée par la propagation mondiale du virus SARSCOV-2. En ce qui concerne la sécurité maritime, l'innovation que constitue le contrôle autonome réduit fortement le risque d'accidents dus à des erreurs humaines, qui sont à l'origine de la plupart des accidents maritimes. En ce qui concerne la protection de l'environnement marin, la navigation autonome peut en outre rendre le transport maritime plus durable.Pour ces raisons, les États et les entités privées financent plusieurs projets de développement de navires autonomes : au cours des dernières années, les premiers navires de surface autonomes (ci-après dénommés MASS) ont été testés et produits. En l'état actuel des connaissances, l'adoption de cette nouvelle technologie n'est plus un événement futuriste : plus d'un millier de MASS naviguent actuellement sur les océans du monde.Étant donné que l'activité humaine de la navigation est sujette à des changements, on peut se demander si les règles internationales qui la régissent sont d'une certaine manière remises en question par l'essor de l'automatisation.Habituellement, une nouvelle invention technologique s'accompagne de nombreuses questions réglementaires. D'une part, la loi est tenue de contrôler et de prévenir les conséquences involontaires découlant du recours à la nouvelle technologie. D'autre part, la loi est appelée à admettre et à autoriser son utilisation.Par conséquent, l'objectif de cette thèse est d'étudier les implications juridiques internationales découlant de l'utilisation croissante des moyens autonomes de transport maritime. En quelques mots, il s'agit ici d'aborder la question de savoir si et comment le recours à la technologie MASS a un impact sur le cadre juridique international préexistant qui régit l'exécution de la navigation et le contrôle de l'Etat sur celle-ci.Au cours des dernières années, ce sujet a suscité une attention croissante. En particulier, en 2019, le Comité de la sécurité maritime (CSM) de l'OMI a approuvé les "Directives provisoires pour les essais de navires autonomes de surface (MASS)". En outre, l'Organisation a très récemment achevé le "Regulatory Scoping Exercise on Maritime Autonomous Surface Ships" (ci-après RSE), qui avait débuté trois ans auparavant.La recherche proposée veut s'inscrire dans ce débat ouvert (et le dépasser) afin de fournir un panorama étendu des implications juridiques internationales émergeant de l'utilisation de l'automatisation et du contrôle dans le domaine maritime. Ce faisant, l'attention se concentrera sur trois blocs normatifs : les règles internationales sur la sécurité de la navigation (chapitre I), les règles internationales régissant l'attribution de la juridiction des États sur les navires (chapitre II) et les règles internationales traitant de l'assistance aux personnes trouvées en détresse en mer (chapitre III).

OHADA is amongst an international organization which consists of arbitral tribunal within some regions in Africa in handling international investment and commercial disputes. Henceforth, the purpose of this study is to examine the effectivity of the enforcement of arbitral awards under the perspectives of OHADA arbitration rules. The study axed through qualitative approach by interpreting legal rules, analyzing cases and commenting the weakness of the charter in terms of enforcement and recognition of arbitral awards. The decision of OHADA arbitral tribunal shall contain intrinsically legal binding to member countries, however it leads problematics as the enforcement and recognition rules may be different in every country involved. Hence, the study interpreted the legal rules concerning enforcement and recognition of arbitral awards and the effectiveness of the rules. In addition it exerted also the challenges and significant recommendation for improving arbitration rules relating to enforcement of the awards. It is found that the weakness of the arbitral awards locates on refusal of concerned State to enforce the awards under the domestic law due to conflict of interest.

OHADA is amongst an international organization consists of arbitral tribunal within regions in Africa to deal with international disputes on investment and commercial related. Henceforth, the purpose of the study examines the effectivity of arbitral awards enforcement under the perspectives of OHADA arbitration rules. The study axed through qualitative approach by interpreting legal rules, analyzing cases and commenting the weakness of the charter in terms of enforcement and recognition of arbitral awards. The decision of OHADA arbitral tribunal shall contain intrinsically legal effect to country members, however it leads problematics as the enforcement and recognition rules may be different in every country involved. Hence, the study interpreted the legal rules concerning enforcement and recognition of arbitral awards, effectiveness of the rules. In addition it exerted also the challenges and significant recommendation for improving the arbitration rules on enforcement of arbitral awards. It is found the weakness of the arbitral awards locates on refusal of concerned State to enforce the awards under the domestic law for undefinable conflict of interest

In the present era of rapid globalisation, countries are intrinsically integrated with each other by way of international trade to ensure optimal utilisation of their resources. Trade facilitation is now recognised as a key driving factor in determining export competitiveness of a country. Customs administrations, the frontier border agency responsible for regulating import and export of legitimate goods, are increasingly faced with the challenge of intellectual property rights (IPR) infringement. In addition to national governments, various international organisations have devised guidelines and tools to facilitate and empower Customs agencies in their fight against IPR infringement. In particular, the multilateral Agreement on Trade Related Aspects of Intellectual Property Rights (TRIPS) of the World Trade Organization (WTO) articulates a prescription for border enforcement of IPRs in Articles 51-60. In this backdrop, this thesis attempts to answer a very fundamental question: What are the implications of ‘Border Measures’, specified under the WTO TRIPS Agreement, for facilitating international trade? To this end, it critically examines the concepts of trade facilitation, TRIPS and IPR protection to highlight the links that connect them and the missing links that need to be established. Obligations to protect IPR under national and international laws are also scrutinised. Research shows that efforts by WTO, World Customs Organization (WCO) and World Intellectual Property Organization (WIPO) have been instrumental in this context. While policy planning at the national level should be the first priority, commitment by the advanced economies to support their less developed counterparts through technology transfer (TT) is of paramount importance. The thesis suggests that TRIPS-plus provisions, if implemented arbitrarily by developed countries, have the potential to undermine the interests of countries with resource constraints. In this context, the thesis analyses the effects and implications of the Trans-Pacific Partnership (TPP) and the Trans-Atlantic Trade and Investment Partnership (TTIP) agreements, and the Revised Kyoto Convention (RKC) for the border protection of IPRs. The thesis investigates the socio-economic impacts of IPR infringement and articulates strategies to be adopted and applied at individual, collective, business and government levels to stop trade and use of IPR infringed goods. Drawing on the analysis of the relevant WTO Articles, scrutiny of various border measures put in place by national governments and international bodies, and current state of play under the Doha Development Round (DDR), the thesis puts forward a set of short and long term policy recommendations for all relevant stakeholders. These inclusively include: (i) strengthening risk management procedures; (ii) cooperation and coordination at national and international levels; (iii) awareness raising initiatives; (iv) establishing advanced technologically driven border enforcement system; (v) empowering Customs with effective administrative authority; (vi) IP related technical capacity building within the Customs and business community; (vii) technology transfer to LDCs from developed countries; and (viii) LDC friendly dispute settlement process under the WTO.

This article critically considers the legality of hyperlinking to copyright-protected material on the Internet. It considers the position with respect to standard hyperlinks, and attempts to provide a possible approach in light of the proposed introduction of two new exclusive rights, namely (i) the right of communication to the public; and (ii) the making-available right. These new exclusive rights appear to be an attempt to amend the South African Copyright Act in order to give effect to the 1996 WIPO Copyright Treaty, which sought to ‘digitise’ copyright law in light of the digital technology that had developed. The WIPO Copyright Treaty supplements, in particular, the rights granted to copyright owners under the Berne Convention, extending the right of communication to the public to include the making-available right. Use will be made of the case law of the Court of Justice of the European Union, which has given effect to the right of communication to the public (including the making-available right), following its inclusion in the WIPO Copyright Treaty of 1996. Through a more focused analysis of these exclusive rights, it is intended that this article can provide some guidance to South African lawyers and our courts when considering the application and scope of these exclusive rights.

This article recommends the Cape Town Convention on International Interests in Mobile Equipment and appeals to African countries to accede to the Luxembourg Protocol on Railway Rolling Stock (Rail Protocol). The discussion in this article focuses on the extent to which Article XXII of the Rail Protocol can be applied with respect to Africa. The article critically analyses the competence of the African Economic Community (AEC) and its sub-regional organizations to accede to the Cape Town Convention and Rail Protocol. The author provides a detailed argumentative analysis of the legal mandate of the AEC and the influence of African Union (AU) laws on the competence of the AEC’s sub-regional organizations to make declarations under the Cape Town Convention and Rail Protocol. The analysis confirms that competence to accede to the Convention and Rail Protocol resides with sovereign States in Africa and not with the AU, the AEC, the Organisation pour l’harmonisation en Afrique du Droit des Affaires, or any existing sub-regional organization in Africa.

Soils are essential for food security and the right to food. But where is the connect between soil, trade in agriculture and the rules of the World Trade Organization (WTO)? While the WTO is not an environmental protection agency (as per its initial design at least), existing WTO rules fail to make agricultural trade patterns sustainable when it comes to the medium of soil. Notwithstanding, trade policy is of growing importance to soil protection, biodiversity preservation, deforestation, land degradation and desertification. Soil is key in this regard not only because it is the world's second-largest carbon sink after the oceans. Unsustainable trade in agricultural commodities should increasingly be seen in light of an industrial transition to increased climate neutrality and decarbonisation. This in turn should be guided by the leitmotiv – in times of climate change - to place soil protection for sustainable food security at the centre of any economic policy, also in terms of the rules on international trade in agriculture under the WTO.

Cette thèse étudie principalement l'impact du commerce international sur l'innovation, avec un accent particulier sur les pays en développement. Elle couvre également l'impact des retombées commerciales sur les inégalités de genre. Le chapitre 1 présente un aperçu de la littérature économique théorique et empirique récente traitant de l'effet de la concurrence des importations sur les résultats liés à l'innovation. Ce chapitre est divisé en quatre sections. Tout d'abord, un historique des brevets et des marques déposées en tant qu'indicateurs d'innovation est présenté. Deuxièmement, les mécanismes théoriques qui sous-tendent l'impact de la concurrence des importations sur l'innovation sont discutés. Troisièmement, une revue de la littérature des études empiriques récentes sur le commerce et l'innovation est résumée. Enfin, une analyse empirique est menée pour examiner l'impact de la concurrence des importations chinoises sur l'innovation, mesurée par l'activité de dépôt de brevet, dans les pays en développement.Le chapitre 2 est un exercice empirique qui examine l'impact de la concurrence des importations chinoises sur l'innovation, en utilisant une nouvelle mesure qui est le dépôt de brevet. L'étude utilise un ensemble de données de panel de 1995 à 2018 sur plus de 100 pays en développement. Le modèle empirique corrige l'endogénéité en utilisant une approche de variable instrumentale qui permet d'identifier la part du développement dû aux importations chinoises dans d'autres pays en développement. Les principales estimations trouvent un effet global décroissant de la concurrence des importations sur l'activité de dépôt de brevet. Les résultats de la variable instrumentale sont particulièrement robustes pour les demandes de brevet, mais pas pour les enregistrements. Cela suggère que la concurrence des importations affecte négativement les nouvelles innovations locales de produits ou de services dans les pays en développement.Enfin, le chapitre 3 aborde la question de l'impact des retombées du commerce international sur les normes d'égalité de genre. La majorité des études existantes documentent l'effet des épisodes de libéralisation sur les inégalités de genre. Celui des acteurs commerciaux, en revanche, a été largement ignoré. L'inégalité de genre au sein d'un pays est-elle affectée par ses partenaires commerciaux? Nous avons examiné cette question dans cet article en adoptant un modèle spatial du commerce entre 123 pays sur la période 1997-2013. Nous utilisons l'indice d'inégalité de genre pour capturer les tendances globales sur le genre au sein d'un pays. Nous avons ensuite désagrégé les échanges commerciaux au niveau produits afin d'identifier un canal technologique. Les résultats montrent que des normes d’égalité de genre plus élevées à l'étranger se répercutent, via les importations de produits de moyenne, haute technologie et minéraux, sur des normes d'égalité de genre plus élevées au niveau national. Ces résultats suggèrent qu'une révolution technologique affecte les entreprises, les ménages et les gouvernements en ayant un impact sur l'autonomisation des femmes.

Purpose This study aims to examine whether there are differences between financial statements prepared in accordance with International Financial Reporting Standards (IFRS) and financial statements prepared in accordance with local accounting standards in terms of its ability to present the financial conditions of companies listed on the Saudi Stock Exchange as one of the emerging markets. Design/methodology/approach Data on study variables were obtained from the published financial statements of 67 of listed companies in the Saudi Stock Exchange during the period 2014–2019. The study addressed the research hypotheses by using Altman Z-score model. Both the T-test and Wilcoxon rank test were used to investigate the significance of differences between the values of Z-score and the individual variables included in the model in the pre- and post-IFRS mandatory adoption periods. Findings The results revealed a decrease in the values of Z-score as well as the values of the individual variables included in the model in the period following the adoption of IFRS than it was before the adoption of IFRS, which indicates the ability of IFRS to show the financial conditions of companies more transparently than local accounting standards. However, the results of the T-test and Wilcoxon test showed that these decreases were not statistically significant. Research limitations/implications This study has some limitations, including the small sample size as a result of the small size of the Saudi Stock Exchange, As well as the reliance of this study only on the Altman model with its five variables in assessing financial conditions without examining the impact of other factors that may affect the financial conditions of companies. Practical implications Financial conditions of the companies have important implications for multiple parties such as management, government, investors and others as an early warning sign that enables them to take the necessary measures early before the actual bankruptcy occurs and what results in costs. Originality/value Although assessing financial conditions of the companies is one of the basic uses of accounting information, this topic has not received sufficient attention as a means to test the benefits of adopting IFRS, especially in emerging markets such as Saudi Stock Exchange. This is the first study to examine the impact of adopting IFRS on the transparency of financial reporting in assessing financial conditions in Saudi Arabia.

Purpose This study aims to investigate the factors that affect the likelihood of formalizing informal sector activities in 13 Sub-Saharan African countries, using World Bank enterprise survey data collected between the periods 2009 and 2018. Notwithstanding the great contribution of the informal economy in Africa, developing countries may stand to gain more if they make inroads in formalizing the informal sector. Design/methodology/approach Since the dependent variable is binary taking the value of one if the firm is willing to formalize and zero otherwise, the study will employ a discrete choice probit model. Findings Results inter alia show that firms that are more likely to formalize are young, owned by individuals with high levels of education and, have registered before. Governments should therefore target firms that are young and provide them with information about the benefits of registration, and if these firms are owned by experienced and educated individuals, the likelihood for them to register would be high. Research limitations/implications The study uses cross sectional data and therefore cannot capture time variant factors affecting the probability to register and also cannot correct effectively for endogeneity. Practical implications Governments should therefore target firms that are young and provide them with as much information as possible about the benefits of registration, and if these firms are owned by experienced and educated individuals, the likelihood to convince them to register would be high. They should also reduce the cost of registration so as to improve net benefits in line with the rational exit view. Social implications Formalizing informal activities will help improve the performance of these firms, reduce vulnerable employment as well as crime, poverty and inequality. Providing decent operating and working conditions to informal players will reduce social and political unrest. Originality/value The African continent is home to many informal firms accounting for roughly 55% of economic activity with 90% of workers eking out a living in a sector that does not respect worker rights, provide decent working conditions and where changes in growth have done little to reduce its size. Regulatory reforms have also been implemented resulting in the number of start-up registration procedures falling from 11 in 2003 to seven in 2019. The uniqueness of Sub Saharan Africa in terms of entrepreneurial culture, political, institutional and economic conditions as well as lack of consensus in the extant empirical literature make this study pertinent.

This thesis examines how multimodal transport can play a role in achieving the objectives of the African Continental Free Trade Area (AfCFTA). The thesis argues that multimodal transport is cheaper compared with unimodal transportation. While there are a number of issues affecting the operationalisation of multimodal transport in Africa, this study considers, at its core, the legal regimes and other fragmented institutional and governance frameworks of multimodal transport in West Africa. The fragmentation of the legal framework governing multimodal transport leads to uncertainty and unforeseeability of the liability of parties involved in multimodal transport, consequently leading to increased legal costs. There is an undisputed view that for effective regional integration, which Africa is seeking to achieve through the establishment of the African Continental Free Trade Area, there is a need to eliminate all trade barriers. Trade barriers (tariff or non-tariff barriers) should be removed to improve competitiveness and reduce trade friction costs. In other words, to achieve the objectives of the African Continental Free Trade Area, it is essential that all unnecessary costs associated with trade are eliminated or reduced to the barest minimum. The process of doing this is called trade facilitation. This thesis looks at the impact of trade facilitation on regional integration and trade. This thesis’ original contribution to knowledge is that Africa’s regional integration process needs cost-effective transportation in order to achieve smooth market access, and multimodal transportation can provide the most cost-effective solution. However, the legal uncertainty and complexities that could potentially ensue from the use of multimodal transport make it unattractive to prospective users. Accordingly, actions must be taken to reduce legal ambiguity and create a system in which liability is foreseeable and predictable. This study reveals that the current legal framework is incomplete, unsatisfactory and, ultimately, leads to uncertainty. The thesis further contends that neither the option of freedom of contract nor improving the current system of various Economic Community of West African States (ECOWAS )member-states’ view of multimodal transport, can significantly improve the current fragmented system or deliver the needed certainty. Accordingly, the thesis proposes that a modified uniform system would help achieve the legal certainty needed for multimodal transport. The thesis finally submits that the ECOWAS should establish a legally binding, regional governance regime on multimodal transport and a majority of its member-states should ratify the instrument.

The purpose of this paper is to analyze the trends of legal regulation in the business activity under the conditions of new coronavirus infection. The dialectical method of research in conjunction with a retrospective and comparative analysis made it possible to identify three main trends in the legal regulation of entrepreneurial activity in the framework of new socio-economic realities. The increasing role of state regulation of entrepreneurial activity, based on the use of public and legal means, due to the need to increase state intervention in the activities of entrepreneurs is shown. The state support of business for the subsequent development of the economy and compliance with the social balance is also increasing. Accordingly, the social importance of entrepreneurial activity is growing. The pandemic has also intensified the digitalization of entrepreneurial activity, of transport companies, since many traditional forms of doing business are limited by the forced isolation of society. Individual means of digitalization, including the industrial Internet of Things, e-commerce, and smart contracts, have become most prevalent. Consequently, the pandemic cannot be viewed only as a negative factor, its impact on entrepreneurial activity also has a positive effect.

Purpose This study aims to examine whether the impact of international financial reporting standards (IFRS) on audit fees differs between early and late adopters. Design/methodology/approach The authors use robust econometric estimation on a sample of 314 firms from both early and late IFRS adopting countries. Findings The authors find that IFRS is positively and significantly associated with an increase in audit fees for early adopters, but the impact is very weak for late adopters and insignificant in some cases. The results on auditing time suggest that increase in audit fees around IFRS adoption is due to an increase in audit reporting lags. After accounting for pre- and post-years, the authors find that the relationship between IFRS and audit fees, as well as audit time for late adopters, is significant only in the adoption year. However, early adopters experience a significant increase in audit fees and audit time in the transition year to one-year post-adoption. Practical implications The findings imply that countries that are yet to adopt IFRS are less likely to experience a significant increase in audit fees audit time. Hence, is probable that the benefit of IFRS will outweigh the cost. Originality/value The results, therefore, suggest that early adopters paid a premium for been the first users of IFRS, which is consistent with any innovation. The study provides new insights by demonstrating that the consequences of IFRS differ between early and late adopters.