Financial scandals in the 2000s called into question the quality of governance and therefore the quality of financial information. Consequently, the attention paid to the quality of information finds its originality. Following these events, which were caused by asymmetry of information, reinforcement measures were adopted by several institutions intended for the security of financial information. These consist in ensuring, by reference to generally accepted standards, that the information produced by the company and intended for partners is of quality. The adoption of the Sarbanes-Oxley Act (SOX) and the Financial Security Law (LSF), have introduced new information obligations for shareholders and the market on the internal control procedures implemented in public limited companies (Coletrella, 2003). As a result, internal control appears as a governance mechanism around which this requirement is developed. The concept of internal control has since been the subject of intense discussion. In the United States as in France, the implementation of the internal control system is compulsory for listed companies. Indeed, in the new regulations, constraints are imposed on listed companies to publish a report on internal control procedures in accounting and financial matters (Gumb and Noel-Lemaître, 2007). But, in French-speaking Sub-Saharan Africa, following the virtual absence of the financial markets, the implementation of internal control would rather be a motivation or a commitment of the actors of the company in the perspective of being able to control their activities and, protect the assets of the company. Thus, current businesses, operating in a difficult environment, require a serene internal organization. Internal control, as an instrument of risk management (Sfayhi et al, 2007), including all members of the organization, contributes to this end. In Cameroon, there is a renewed interest in Small and Medium Enterprises (SMEs). This explains their importance in maintaining dynamic growth. However, SMEs remain the category of companies recording the largest number of bankruptcies and closings: 45% of closings in 2009 against 69% in 2010 according to information from the General Census of Enterprises. According to Keasy and Watson (1991) and Graham (1994), the bankruptcy of SMEs, as well as their financing difficulties, is due to a deficiency in the management tools used, in particular the accounting tool. Djongoué (2007) emphasizes that the business environment in Africa and more particularly in Cameroon is marked by the unavailability of good quality financial information. According to Ndjanyou (2008), this would reflect a problem of asymmetry of information, characterized by questioning the quality of their mechanisms for the supervision and production of accounting information. Thus, studies carried out in the field of accounting in Cameroon, have not yet explored the contribution internal control as a mechanism that improves the quality of information in SMEs. Thus, such research proves to have great interests...

This study is to investigate the determinants of access to finance by Small and Medium sized Enterprises (SMEs) in Cameroon. To achieve the objective of this study, a sample research plan was used where, the data were collected at random using questionnaires from 40 SMEs. Under the prism of logistic regression, it emerges that only the interest, success of the manager and investment capacity are significantly associated with the probability of SMEs access to credit. Results portray a positive and significant relationship between the manager's investment capacity and the access of SMEs to financing. On the other hand, there is a negative and significant relationship between interest and managerial success and, the probability of SMEs access to credit. Based on the results, it's recommended that government at all levels set up its assistance to small businesses in terms of providing direct financial assistance, organization of seminars, workshops and training for small business owners on how to run a successful small business. The government should also oversee the reduction in interest rates so that many can be encouraged to take out loans.

L'objectif de cette étude est d'analyser et d'apprécier l'influence des mécanismes de gouvernance d'entreprise sur la création de valeur partenariale dans les PME Camerounaises. Pour cela, nous avons collecté les données auprès des 37 PME de la ville Douala. Dès lors, il se degage à partir des régressions linéaire multiple que la majorité des PME camerounaises utilisent le modèle de type Stakeholder qui est un modèle de gouvernance axé sur la maximisation de la valeur partenariale. Les dirigeants sont alors contraints à créer de la valeur non pas seulement pour satisfaire les intérêts des actionnaires qui exercent un contrôle absolu de l'entreprise, mais également celui de l'ensemble des parties prenantes. Cette approche augmente la liberté d'action du dirigeant et par conséquent son efficacité managériale. AbstractThe objective of this study is to analyze and appreciate the influence of corporate governance mechanisms on the creation of partnership value in Cameroonian SMEs. For this, we collected data from 37 SMEs in the city of Douala. Therefore, it emerges from the multiple linear regressions that the majority of Cameroonian SMEs use the Stakeholder type model which is a model of governance focused on maximizing partnership value. Leaders are then forced to create value not only to satisfy the interests of shareholders who exercise absolute control of the company, but also that of all stakeholders. This approach increases the leader's freedom of action and consequently his managerial efficiency.

The objective of this study is to analyze and appreciate the influence of corporate governance mechanisms on the creation of shareholder value in Cameroonian SMEs. For this, we collected data from 37 SMEs in the city of Douala. Therefore, our analysis shows that the majority of Cameroonian SMEs use the Shareholder model, which is a model of governance focused on maximizing shareholder value. Leaders are then forced to create value only to satisfy the interests of shareholders who exercise absolute control of the company. This approach reduces the manager's freedom of action and thereby attenuates his effectiveness.

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