The purpose of this study is to examine how internal audit procedures and responsibility perceptions of the auditors impact the audit decisions of independent external auditors. The questions of the research are answered by the certified public accountants (CPA) operating in Turkey and the establishments that audit companies independently. The results of the study show that the procedural efficiency of internal auditors in auditing and their taking responsibility have a positive impact on the decisions of independent external auditors. Another result of the study was that in the absence of internal audit elements in the company or in the case that internal auditors do not function properly, the audit result of the independent auditor will be more ineffective. In this respect, in order to get objective and reliable data from the independent external auditors, internal procedures should be streamlined and internal auditors should be willing to cooperate with external auditors more.

Tax avoidance is a common problem among many nations all over the world, especially the developing and third world countries. Most citizens see tax payment as very offensive, and seek all means to avoid tax liabilities. Kenya is not exempted from this economic menace. In spite of the several tax holidays enjoyed by firms in Kenya, most firms have resorted to creatively avoid tax under the disguise of shareholders wealth maximization. This act is seen by the researchers as a corporate governance factor because the provision of bonus schemes by shareholders for managers for abnormal wealth maximization had justified the act of tax avoidance in the Kenyan corporate world.

Why do rockets need so much power to lift off? Why do humans walk on two legs? To answer these questions, we are likely to call upon the theories of gravity and evolution. These theories are generally held in high regard for their powers of explanation and prediction, but what is it that gives them their authority? In fact, what is a theory? Furthermore, what is the relevance of accounting theory to accounting?

Market efficiency hypothesis suggests that markets are rational and their prices fully reflect all available information. Due to the timely actions of investors prices of stocks quickly adjust to the new information, and reflect all the available information. So no investor can beat the market by generating abnormal returns. But it is found in many stock exchanges of the world that these markets are not following the rules of EMH. The functioning of these stock markets deviate from the rules of EMH. These deviations are called anomalies. Anomalies could occur once and disappear, or could occur repeatedly. This literature survey is of its own type that discusses the occurrence of different type of calendar anomalies, technical anomalies and fundamental anomalies with their evidences in different stock markets around the world. The paper also discusses the opinion of different researchers about the possible causes of anomalies, how anomalies should be dealt, and what ere the behavioural aspects of anomalies. This issue is still a grey area for research.