Bibliographie sélective OHADA

Please refer to full text to view abstract. <br>LL.M. (Commercial Law)

Desire for quick and affordable justice is universal. Right to speedy trial is a right to life and personal liberty of every citizen guaranteed under Article 21 of the Constitution, which ensures just, fair and reasonable procedure. Alternative Dispute Resolution mechanisms have become more crucial for businesses operating in India as well as those doing businesses with Indian firms. There are various reasons for which ADR is preferred over the conventional way of resolving the disputes. India being a developing country, going through major economic reforms within the framework of the rule of law, for expeditious resolution of disputes and lessening the burden on the courts, alternative mechanisms for resolution (ADR) are the only alternative through arbitration, conciliation, mediation and negotiation.

Please refer to full text to view abstract. <br>LL.M. (Commercial Law)

Şirket birleşmelerinde ortakların korunması, belirlediği ilkeler ve tanıdığı dava hakları nazara alındığında, kanun koyucunun özel önem atfettiği hususlardan biridir. Devrolunan şirketin ortaklarının, mevcut pay ve haklarını karşılayacak değerde, devralan şirket pay ve haklarını iktisap etmesi esastır. Birleşmenin ortakların malvarlığı cephesinde yarattığı olumsuz sonuçlar, ortaklığın devamlılığı ilkesi çerçevesinde, denkleştirme davası ile denetlenmektedir (TTK m. 191). Bu davada ortaklar, pay ve haklarının gereğince korunmamış veya ayrılma akçesinin uygun belirlenmemiş olması gerekçesiyle, uygun bir denkleştirme isteyebilirler. Öte yandan, Kanun'un birleşmeye ilişkin hükümlerinin ihlali, yine ortakların açabileceği, özel iptal davası ile denetlenmektedir (TTK m. 192). Kanun koyucu, ilgili hükümlerin ihlaline iptal sonucunu bağlamakta; ancak eksikliklerin giderilmesi mekanizması ile bu ağır yaptırımla karşılaşılmaması için devralan şirkete olanak tanımaktadır. Son olarak, birleşme işlemlerine katılan bütün kişilerin, ortaklara karşı kusurları ile vermiş oldukları zararlardan sorumlu oldukları düzenlenerek, ortakların zararlarını tazmin edecek bir özel sorumluluk davası öngörülmektedir (TTK m. 193). Böylece birleşme karşısında ortaklar, üç farklı mekanizma ile koruma altına alınmış olmaktadır. Regarding the principles determined and the right to sue recognized, the protection of the shareholders in the mergers is one of the issues that the legislator attaches special importance to. It is essential that the shareholders of company being acquired attain the shares and rights in the acquiring company equivalent to those in the company being acquired. The negative results of merger on the assets of the shareholders are reviewed by an examination case within the framework of the continuity of the partnership principle (TCC Art. 191). In the present case, the shareholders may demand an appropriate compensation on the grounds that their share and rights are not properly protected or the amount of any cash payment is not determined appropriately. On the other hand, the violation of the provisions of the Law relating to the merger is controlled by a special nullification case, which could be filed by the shareholders (TCC Art. 192). The legislator has concluded the nullification of the violation of the relevant provisions; however, the elimination of deficiencies mechanism allows the acquiring company to avoid it. Finally, it is foreseen a liability case to compensate shareholders' damages that allows all persons participating in the merger transactions are liable for the damages they incurred against the them (TCC Art. 193). Thus, the partners are protected by three different mechanisms against the merger.

The thesis contributes to the debate on the EU’s approach to the business practice of resale price maintenance (RPM), which is widely criticized as too strict and in conflict with what is considered to be the consensus in the economic literature. The thesis critically dissects the economic consensus, on which the critique against the EU’s approach is based, by analyzing the empirical evidence that is cited to support the claim that RPM can frequently be explained by the service-based RPM models and shows that there is no convincing evidence that would support the significance of these positive RPM models that predict positive effects on welfare. To support this finding the thesis collects new evidence by surveying the marketing literature and shows that not only is there no convincing evidence that the positive RPM models frequently apply, but to the contrary there is evidence that these models are inconsistent with the real world phenomenon of RPM. Having refuted the service-based models the thesis takes up the scientific challenge that “it takes a theory to beat a theory” and proposes to fill the gap with three price-based models. The thesis offers an analysis of the three price-based RPM models, first from the perspective of welfare effects and then from a broader economic perspective in an attempt to ultimately show that the EU approach to RPM can be justified based on these economic models. All three models explain the situation in which RPM is used by a branded good manufacturer to create the perception of high quality, which is used either as a credible quality signal, becomes a component of the product or is used to bias the consumer decision; they thus enter the difficult terrain of consumer preference formation and of markets for the intangible components of a product.

Afin qu’une entreprise puisse évoluer positivement, elle doit disposer d’une direction de qualité qui travaille et collabore avec l’ensemble des associés dont l’objectif est d’assurer son bon fonctionnement. Or, assez souvent dans les sociétés et plus particulièrement dans la société anonyme, les dirigeants qui sont généralement majoritaires abusent de leur pouvoir en favorisant leur intérêt propre au détriment de celui de la société et en portant par conséquent préjudice aux actionnaires minoritaires. Cet abus de pouvoir dont profitent les actionnaires majoritaires est désormais limité par un certain nombre de droits et de contrôle exercé par certains organes dans la société. In order for a company to evolve positively, it must have quality management that works and collaborates with all associates which objective is to ensure its proper functioning. While, often in companiesand specially in corporation, leaders who are usually in the majorityabuse their power of authority by favoring their own interest to the detriment of the companyin which leads to prejudice of minority shareholders. This abuse of power that benefits the majority shareholders is limited by some rights and controlexercised by certain organsin the compagny.

Bu çalışmada anonim şirket yönetim kurulu üyelerinin Rekabet Hukukundan kaynaklanan sorumluluğu incelenmiştir. Anonim şirket kural olarak yönetim kurulu tarafından alınan kararlar ile faaliyetini sürdürür. Anonim şirkette yönetim kurulu üyesi olarak görev yapan kişiler birtakım haklara sahip oldukları gibi yükümlülük altına da girerler. Yönetim kurulu üyeleri kanunda kendileri için getirilen yükümlülüklerini ihlal ettikleri takdirde halinde yönetim kurulu üyelerinin hukuki ve cezai sorumluluğuna gidilir. Anonim şirket yönetim kurulunun hukuki sorumluluk sebepleri ve sorumluluğun şartları Türk Ticaret Kanunu'nda ayrıntılı olarak düzenlenmiştir. Yönetim kuruluna yaptırım uygulanabilecek düzenlemeler Türk Ticaret Kanunu'nda düzenleniyor olmakla birlikte, yönetim kurulu üyelerine yaptırım uygulanmasına imkan veren düzenlemeler mevcuttur. Bu düzenlemelerden biri de Rekabetin Korunması Hakkında Kanun'da yer almaktadır. Rekabetin Korunması Hakkında Kanun'un 16'ıncı maddesinde hem teşebbüs yahut teşebbüs birliklerine hem de teşebbüs ve teşebbüs birliğinin yönetici yahut çalışanına yaptırım uygulanmasına imkan veren düzenleme yer almaktadır. Söz konusu düzenleme uyarınca, , anonim şirket rekabeti sınırlayıcı anlaşma, uyumlu eylem ve kararlar, hakim durumun kötüye kullanılması yahut birleşme veya devralma sebebi ile idari para cezasına hükmedilmesi mümkündür. Maddede aynı zamanda Rekabet Kanunu'nun 16'ıncı maddesinin üçüncü fıkrası gereğince teşebbüs veya teşebbüs birliklerine üçüncü fıkrada belirtilen idarî para cezaları verilmesi halinde, ihlalde belirleyici etkisi saptanan teşebbüs veya teşebbüs birliği yöneticilerine ya da çalışanlarına teşebbüs veya teşebbüs birliğine verilen cezanın yüzde beşine kadar idarî para cezası verilebileceğine ilişkin düzenleme yer almaktadır. Çalışmanın birinci kısmında genel olarak Rekabet Hukukuna değinilecektir. İkinci kısmında ise Rekabet Kanunu'nun 16'ıncı maddesinin üçüncü fıkrası uyarınca teşebbüs ve teşebbüs birliklerine uygulanacak yaptırımın şartları ve yaptırımın uygulanması usulü incelenecektir. Çalışmanın son kısmında ise anonim şirket yönetici ve çalışanlarına uygulanacak yaptırımın koşulları ile yaptırımın uygulanması usulü ayrıntılı olacak incelenecektir. Anahtar Kelimeler: Anonim Şirket, Yönetim Kurulu, Rekabet Hukuku, Yönetim Kurulu Üyelerinin Sorumluluğu, Ticaret Hukuku, Rekabetin Korunması Hakkında Kanun. Liabilities of the members of board of directors in joint stock company under competition law is analysed in this study. As a rule, the joint stock company operates with the decisions taken by the board of directors. Persons who are members of the board of directors of a joint stock company have certain rights as well as obligations. If the members of the board of directors violate the obligations imposed on them by law, the members of the board of directors shall be subject to civil and criminal liability. The reasons for the legal responsibility of the joint stock company's board of directors and the conditions of the liability are regulated in detail in the Turkish Commercial Code. Although the regulations that may impose sanctions on the board of directors are regulated in the Turkish Commercial Code, there are regulations allowing sanctions to be imposed on the members of the board of directors. One of these regulations is included in The Act On The Protection Of Competition. Article 16 of The Act On The Protection Of Competition includes the regulation that allows sanctions to be applied to both the undertakings or associations of undertakings and the manager or employee of the association of undertakings and undertakings. According to article it is possible to impose an administrative fine on the basis of an agreement, concerted practices and decisions restricting competition, abuse of dominant position or merger or acquisition. According to article 16/3, in case administrative fines mentioned in paragraph three are imposed on undertakings or associations of undertakings, an administrative fine up to five percent of the penalty imposed on the undertaking or association of undertakings shall be imposed on managers or employees of the undertaking or association of undertakings who are found to have a decisive influence in the infringement. In the first part of the study, Competition Law will be discussed in general. In the second part, the conditions of the sanction to be applied to the undertakings and associations of undertakings and the method of enforcement of sanctions in accordance with the third paragraph of Article 16 of the Act On The Protection Of Competition will be examined. In the last part of the study, the conditions of sanction to be applied to the managers and employees of joint stock companies and the procedure of sanction will be examined in detail. Keywords: Joint Stock Company, Board Of Directors, Competition Law, Liabilities Of The Members Of Board Of Directors, Commercial Law, The Act On The Protection Of Competition.

The United Nations Commission on International Trade Law (UNCITRAL) is one of the most prominent legal bodies in international commerce. In 1980, the final draft of the United Nations Convention on Contracts for the International Sale of Goods (CISG or the Convention) was approved by the United Nations (UN) General Assembly and came into operation on 1 January 1988. Generally, the diversity of laws is an impediment to international and regional trade. Traders are discouraged from entering into international sales contracts due to the dissimilarities of legal systems. However, the CISG seeks to unify laws relating to the international sale of goods, whilst codifying the existing rules of international trade. The main objectives of the Southern African Development Community (SADC) are to achieve development and economic growth through regional integration.1 The legal integration and unification of sales law has a significant role to play in regional integration. Hence, SADC would do away with difficulties that affect interregional and intra-regional trade by impeding economic growth by making use of widely accepted trade laws, such as the Convention. International trade promotes both economic development and social upliftment. Moreover, democracy, political stability and human rights must be respected to foster sustainable economic growth and development in Southern Africa. 2 With advantages such as accessibility, flexibility, indorsing party autonomy, simplicity, and uniform interpretation, the paper revisits the call for the unification of laws on the sale of goods in SADC and considers the role and significance of the CISG in the region. <br>LL.M. (Commercial Law)

Cette contribution constitue un exposé critique des solutions technologiques adoptées par la Cour pénale internationale dans la conduite de ses procédures. La recherche révèle qu’à l’opposé des États, cette institution judiciaire internationale fait montre d’une ouverture remarquable à l’égard des technologies de l’information et de la communication. Définissant la cyberjustice comme l’application de ces technologies à l’administration de la justice, l’étude se subdivise en quatre parties, qui recouvrent les diverses facettes de l’application des moyens technologiques à la conduite des procès complexes. Elle conclut que bien qu’il faille se féliciter du virage de la modernité empruntée par la Cour pénale internationale, l’utilisation que cette dernière fait de la technologie gagnerait à être amplifiée dans l’intérêt de l’effectivité, de l’efficacité et de l’économie du temps et des ressources compte tenu de la spécificité de sa finalité.

By the time the founding fathers of the Organization for the Harmonization of Business Law in Africa (OHADA) signed the Treaty of Port Louis, the financial markets in Western and Central Africa were embryonic. Nowadays the situation has changed and it seems appropriate to reconsider relationship between OHADA law and securities exchange markets. Indeed, OHADA's Community legislation has to deal with the securities markets covered and serve both the proper functioning of the market and the protection of investors. The uniform Act on Commercial Companies and Economic Interest Groupings contains provisions referring to specific financial rules. However, is this sufficient to earn the public trust? Financial market law is a complex discipline. If we supplement this the effort required for investors to find their way between the West African Economic and Monetary Union (WAEMU) or the Economic and Monetary Community of Central Africa (CEMAC) stock exchange law and national constraints throughout OHADA, the following question must be asked: How is the investor's interest protected in this legal jungle? This paper tries to analyse the legal mechanisms of investor protection in the WAEMU Regional Stock Exchange and the Central African Stock Exchange, combining them with the uniform law for commercial companies of OHADA.

"Anonim şirkette önemli miktarda malvarlığı üzerinde işlemler, anonim şirketin yapısı ve faaliyetlerini ve ayrıca pay sahiplerinin çıkarlarını etkileyen ciddi sonuçlar doğurur. Bu söz konusu işlemler, yabancı hukuk sistemlerinde uzun zamandır pay sahiplerinin korunması amacıyla genel kurulun yetkili olduğu özel usule tabidir. Türk hukukunda 6102 sayılı Türk Ticaret Kanunu öncesinde sadece tasfiye halindeki anonim şirket için düzenlenen genel kurulun bu yetkisi, Yargıtay kararlarında ve öğretide faaliyeti devam eden şirket için de kabul edilmekteydi. Bugün ise Yargıtay içtihatları ve yabancı hukuk sistemlerine uygun olarak önemli miktarda malvarlığı üzerindeki işlemler, faaliyeti devam eden şirketler açısından özel olarak düzenlenerek genel kurulun devredilemez görev ve yetkileri arasında sayılmış ve ayrıca halka açık şirketler için önemli nitelikte işlemlere özgü özel usule tabi kılınmıştır (TTK md. 408/2-f; SPK md. 23/1-b). Ancak Türk Ticaret Kanunu'na Adalet Komisyonu tarafından sonradan eklenen hüküm birçok yönden yoruma ve tartışmaya açıktır. Zira hükmün kapsamı ve uygulama alanı konusunda Türk Ticaret Kanunu bakımından usul ve esaslar yönünden söz konusu olan belirsizlikler, genel kurul ile yönetim kurulu arasında yetki çatışması yaratabileceği gibi, işlemin akıbeti ve dolayısıyla tarafların işlemle bağlılık durumu açısından da sorun doğurabilecek niteliktedir. Öte yandan halka açık şirketler bakımından Sermaye Piyasası mevzuatında önemli nitelikte işlemler için öngörülen usulün de önemli miktarda malvarlığı üzerindeki işlemler özelinde değerlendirilmesi gerekmektedir. Çalışmamızda yoruma ve tartışmaya muhtaç hususlara açıklık getirilmesi amacıyla, önemli miktarda malvarlığı üzerindeki işlemlerin gerçekleştirilmesine ilişkin hukuki bir çerçeve oluşturularak, bu işlemler düzenlenişi, kapsamı, tabi olduğu usul ve nihayet hüküm ve sonuçları yönünden incelenmiştir. […] From the legal and economic perspective, transactions regarding the substantial amount of assets of a joint stock company have serious consequences on its structure and activities, specifically affecting the interests of shareholders. That's why, in comparative law, within the scope of the protection of shareholders, such transactions are subjected to a special process in which the general assembly plays a crucial role in authorization of the aforementioned transactions. In Turkish law, before the enactment of Turkish Commercial Code nr. 6102, the general assembly had this authorization, but only in the liquidation process of a company. However, in various decisions of the Turkish High Court of Appeal and the legal scholarly work, in accordance with the comparative law, it was pointed out that the general assembly should have this authorization, even if the company is not in a liquidation process. Currently, such transactions of active companies are specifically regulated and are considered among the non-delegable authorizations of the general assembly. In addition, such transactions of publicly-held corporations are subjected to a special process (Art. 408/2-f of TCC; Art. 23/1-b of CML). However, the relevant article added by the Commission of Justice to the Turkish Commercial Code needs to be scrutinized and interpreted. There are many uncertainties regarding rules and procedures within the scope of this provision. This ambiguity might lead to authorization conflicts between the general assembly and the administrative board. Moreover, certain legal problems might arise from these transactions. Last, the special regulation in the Capital Market Law regarding the transactions embodying the substantial amount of assets needs detailed examination. This thesis aims to resolve the ambiguities of the aforementioned provisions and create a special legal basis for the regulations of these types of transactions."

[Resumen] El arbitraje entre Estados y particulares extranjeros es un mecanismo de resolución de litigios a caballo entre el Derecho internacional público y el Derecho privado, que desde finales de la década de 1990 ha vivido un sorprendente auge a nivel mundial. Una modalidad de arbitraje institucional de inversiones es la del CIADI -Centro Internacional para el arreglo de Disputas sobre inversiones-, organismo dependiente del Grupo del Banco Mundial. El propósito de la tesis es llevar a cabo una investigación sobre la configuración de la independencia e imparcialidad de los árbitros del CIADI, sus derechos y deberes en tanto que tales y sus facultades procesales. La investigación se valdrá del Derecho comparado, tanto nacional como internacional, realizando una análisis de la doctrina, la práctica y la legislación que regula el sistema CIADI. A arbitraxe entre Estados e particulares estranxeiros é un mecanismo de resolución de controversias a cabalo entre o Dereito internacional público e o Dereito privado, que dende finais da década de 1990 viviu un sorprendente auxe a nivel mundial. Unha modalidade de arbitraxe institucional de investimentos é a do CIADI -Centro Internacional para o Arranxo de Desputas sobre Investimentos-, organismo dependente do Grupo do Banco Mundial. O propósito da tese é facer unha investigación sobre a independencia e imparcialidade dos árbitros do CIADI, os seus dereitos e deberes como tales e as súas facultades procesuais. A investigación valerase do Dereito Comparado, tanto nacional como internacional, realizando unha análise da doutrina, a práctica e a lexislación que regula o sistema CIADI. Arbitration between States and foreign investors is a dispute-resolution mechanism halfway between international public Law and private Law, which had surprisingly rised during the 1990's at the world level. In this work the following issues will be tackled: the legal nature of the aforementioned arbitrators. ICSID -International Centre for the Settlement of Investments Disputes- is a modality of institutional arbitration for investments. This institution is incarditated into the World Bank Group. The aim of this dissertation is to carry out a research on the configuration of the independence and impartiality of ICSID arbitrators, as well as their duties and rights as such and their procedural faculties. The research will be based on both national and international comparative Law, focusing in legal doctrine, in praxis and in the law governing the ICSIS system.

Après avoir constaté que le cadre juridique national ne se saisit que partiellement de l’infraction de corruption, les États ont massivement adhéré aux conventions régionales et internationales de lutte contre la corruption. Dans un souci de consensus, la souplesse des termes utilisés dans ces conventions a masqué la fermeté de leur finalité. Pendant que cette apparente souplesse a suscité la réception différentielle des instruments conventionnels, suivant le système juridique de l’État partie considéré, leur évaluation par les différents mécanismes de suivi suggère l’harmonisation du droit en matière d’anticorruption. Concrètement, il s’observe que cette finalité harmonisatrice ne peut être effective sans un mécanisme coercitif de contrôle, mis en oeuvre par la plainte ou la communication de tout acteur social intéressé par la lutte contre la corruption. Seulement, les différentes perceptions qu’ont certains États de l’initiation des poursuites devant la Cour pénale internationale rendent utopique, à l’heure actuelle, l’institutionnalisation d’une Cour pénale internationale des crimes économiques. La solution la plus plausible, pour lutter contre la corruption, exige que les acteurs sociaux s’organisent en réseau de poursuivants. Celui-ci devra saisir tous les mécanismes juridiques nationaux, étrangers et internationaux rattachés à l’infraction de corruption par le même fait « corruptionnel ». Cette concurrence implicite entre des instances quasi-juridictionnelles et juridictionnelles de divers ordres juridiques instaure entre eux une compétition spontanée ; laquelle participera à l’amélioration des garanties d’indépendance des juridictions nationales.

Anonim ortaklıklarda şirket menfaati kavramı, şirket eksenli çatışan tüm menfaatlerin ortak paydasıdır. Pay sahibi, yönetici, çalışan, tedarikçi, alacaklı ve hatta toplumun menfaatinin sağlanması ile şirketin meşru menfaatinin sağlanması arasında doğru orantı vardır. Bir şemsiye kavram olan şirket menfaatinin sağlandığı durumlarda orta veya uzun vadede diğer grupların da menfaati sağlanmış olur. Bu kavram, şirket hayatının sürdürülebilirliği için en önemli enstrümandır. İlk bakışta soyut bir kavram olarak dikkat çeken şirket menfaati kavramına başta Türk Ticaret Kanunu olmak üzere mevzuatın pek çok yerinde bazen açıkça, bazen de örtülü olarak sıklıkla başvurulduğu gözlemlenmektedir. Çalışmada öncelikle şirket menfaati kavramı tanımlanmış, akabinde ise kavram ile ilgili olduğu düşünülen hukukî düzenlemeler mukayeseli hukuktan da yararlanılarak irdelenmiştir. The concept of company interest in joint-stock companies is the common denominator of all conflicting interests. There is a direct proportion between benefits of the shareholder, the manager, the employee, the supplier, the creditor, and even the community and the legitimate interest of the company. As an umbrella concept, if the company interest is provided, the benefit of other groups is ensured in the medium or long term. This concept is the most important instrument for the sustainability of the company life. The concept of the company interest which draws attention, prima facie, as an abstract concept, is frequently referred in many parts of the legislation especially Turkish Commercial Code both explicitly and implicitly. In the study, firstly the concept of company interest has been defined and then the legal regulations which are thought to be related to the concept have been examined by using comparative law.

The resolution of disputes through alternative dispute resolution mechanisms has gained momentum over recent decades. It has increasingly occupied space in the academic literature as the “new” method to achieve “justice” for disputing parties. It is important to note that a variety of definitions of “justice” can be relied upon. However, in many cases, justice will mean the parties being able to resolve their dispute fairly, justly and amicably by applying law or legal principles. Traditional legal mechanisms for resolving disputes have been increasingly questioned as to whether they are actually capable of achieving justice in individual cases. Resolution in the courts is not only the method of resolving disputes . If the parties can resolve their own disputes then there will arise no need for court system in world. All though court system is good and fair way of dealing with civil disputes yet it might not be the best method to resolve the disputes. Basically there are four ways to of alternate dispute resolution. They are Negotiation, Mediation, Conciliation and Arbitration . The of ADR is to resolve the matters in a cost effective manner and foster long term relationship.

This thesis investigates the adoption, compliance and consequences of International Financial Reporting Standards (IFRS) in Africa, a continent which has mostly been ignored in prior studies due to the use of generic proxies. Drawing on DiMaggio and Powell (1983), this thesis examines the institutional pressures of IFRS adoption in Africa. Stakeholder salience theory, developed by Mitchell, Agle and Wood (1997), is employed to analyse the determinants of IFRS compliance outside the traditional capital market settings. As regards to the consequences of IFRS in Africa, this thesis analyses the impact of IFRS on audit fees, audit reporting lags and auditor switch. The study used panel data from 54 countries and 205 firms covering the financial years 2003-2016. Secondary data was sourced from reputable database and annual reports of sample companies. Different analytical tools such as ordinary least squares, logit and multinomial regressions were used based on their suitability to address the research questions. The study found that only 18 out of the 54 countries required all listed and large companies to report per IFRS, while 25 did not permit IFRS. The results supported the theoretical prediction that coercive, mimetic, and normative isomorphism influenced IFRS adoption in Africa. Specifically, the World Bank (WB) and International Monetary Fund’s (IMF) influence on African countries in adopting IFRS was not through foreign aid and grants; instead, their recommendations made in the Report on Observance of Standard and Codes (Accounting and Auditing) initiatives. The finding(s) also demonstrated that the presence of global audit firms and the number of years of IFAC membership had a strong association with a country’s decision to adopt IFRS. Moreover, countries with strong professional accounting organisations (PAO) were more likely to adopt IFRS. On IFRS compliance, the study found that the average compliance score among the companies over the period was 70.94%, with a minimum score of 58.59% and a maximum of 83.55%. The findings reported a significant positive association between audit committee competence (ACC) and compliance, and between chartered accountants on board (AOB) and compliance. The thesis also documented that compliance has been increasing over the years. Regarding the impact of IFRS on the audit market, the findings suggested IFRS was positively and significantly associated with an increase in audit fees regardless of early or late adoption. Also, on average, ARL increased by 26% across all samples, with late adopters experiencing 28% and earlier adopters 22% during the adoption year. Contrary to the late adopters, early adopters experienced a significant increase in audit fees during the pre-IFRS period due to the set-up and implementation at the time. In addition, IFRS adoption was likely to cause companies to switch from small audit firms to the Big 4. The findings on adoption suggest that global accounting agencies such as IFAC and IASB should focus on building vibrant national level accounting institutions such as PAOs to facilitate the adoption of IFRS in Africa. The thesis, therefore, adds to the adoption literature the finding that the isomorphic pressures in Africa are different from those suggested in prior studies. The results on compliance imply that companies that appoint more professional accountants to their boards are more likely to comply with the requirement of IFRS. Therefore, it is suggested that companies should engage more chartered accountants in their governance. Also, corporate boards must strive to strengthen their audit committees by appointing more NEDs and CAs to the committee. The findings also provide valuable information for professional accounting organisations on the role of its members (professional accountants) in the effectiveness of IFRS compliance. The findings of the consequences of IFRS on the audit market alert small and medium practitioners (SMPs) in non-IFRS countries of the possible loss of clients to the Big4 due to the adoption of IFRS. To mitigate this effect, the national PAO should build the capacity of their local accountants through training and education to handle the complexities and continuous upgrading of IFRS. Such training is seen as being crucial for SMPs in OHADA countries, Ethiopia, Djibouti and other countries which are in the process of implementing IFRS.