Accountability during the Incorporation of Public and Private Limited Companies under Ohada Law

Merinda Afanui Sama
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Merinda Afanui Sama: Ph.D. in English Law 5847 University of Bamenda, HTTTC Bambili

International Journal of Research and Innovation in Social Science, 2022, vol. 6, issue 1, 332-337

Abstract: This work sets out to evaluate the OHADA Uniform Act’s laws on accountability in Private and Public Limited Companies. Normally, laws which provide for effective accountability, guarantee the smooth functioning and stability of companies since its rules work at averting all forms of mismanagements. The inspiration of this work stems from the realization that, levels of accountability in these companies are still wanting. Hitherto, companies are plagued with vices of obscured activities, fake transactions, non-transparent reporting and acute dishonesty by its organs. It is therefore baffling that, these are still prevalent despite the existence of the Uniform Act’s laws which contains accountability mechanism aimed at dispelling all these forms of corporate transgressions. From this arose lingering doubts as to how these laws are. This leads one to the assumption that, these laws are not efficacious in guaranteeing the effectiveness of this aspect of corporate governance. What then are these techniques and how effective are they? This work highlights and analyses these mechanisms and evaluates the extent of their efficacy. We therefore propose that, these mechanisms be reviewed and amended to be more authoritative, unequivocal, specific, realistic and punitive such that, they will ensure better levels of rendering accountability. In consequence, these companies shall flourish, achieve their desired objectives, experience maximum productivity and generate more profit.

Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:bcp:journl:v:6:y:2022:i:1:p:332-337

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