Rasoava Rijamampianina

In South Africa, the financial sector contributes approximately 10.5% to the country’s gross domestic product (GDP). Although the 2007-2009 global financial crisis did not directly impact the domestic market, it threatened the profitability of the financial sector and triggered changes that affected the role of the internal audit function. In particular, stakeholders’ expectations from the function have significantly increased. Against this background, the study seeks to identify the key success factors of performing internal audit reviews of capital markets business areas within the big four South African banks. For this purpose, in-depth interviews with experienced internal auditors, risk managers and traders were carried out. The study suggests several implications and recommendations for the risk management, internal audit and audit committee functions that can also be adopted by interested parties from non-financial institutions.

Keywords: internal audit, value creation, skills, stakeholders, capital markets.
JEL Classification: G31, M42

Retracted on the 15th of October, 2020 by the Journal’s Editor-in-Chief request dated October 12, 2020. The type of retraction – plagiarism.
The journal was asked to retract this article because of plagiarism. The request came from the author of the article. The author informed the journal that original idea published in this paper wasn’t his and asked to remove the article.