An Analysis of the Role of Internal Audit in the Prevention and Management of Capital Market Cases: A Study of Securities Firms

Veny Anindya Puspitasari; Ronald Maraden Parlindungan Silalahi; Apriani Simatupang

doi:10.63922/ijebir.v5i04.5387

Veny Anindya Puspitasari Management, Universitas Matana
Ronald Maraden Parlindungan Silalahi Communication Science, Universitas Pembangunan Jaya
Apriani Simatupang Management, Universitas Pelita Harapan

DOI: https://doi.org/10.63922/ijebir.v5i04.5387

Keywords: internal audit, capital market, securities company, case prevention, case handling, regulatory compliance

Abstract

This study aims to analyze the role of internal audit in the prevention and handling of cases in the capital market, particularly within securities companies. The background of this research lies in the increasing complexity of capital market activities, which demands a stronger internal audit function as the frontline in maintaining integrity, transparency, and compliance with the regulations of the Financial Services Authority (OJK). The research adopts a qualitative descriptive approach using a single case study method, allowing an in-depth exploration of the practices, strategies, and challenges of internal audit within a selected securities company. Data were collected through in-depth interviews, document analysis, and non-participant observation. Data analysis was conducted using the Miles and Huberman (1994) model, which consists of three stages: data reduction, data display, and conclusion drawing/verification. The results indicate that the role of internal audit in case prevention involves strengthening internal controls, implementing risk-based auditing, and promoting a culture of compliance across organizational levels. Meanwhile, the role in case handling includes conducting audit investigations, coordinating with the compliance unit and top management, and communicating audit findings to regulators when serious violations are detected. This study highlights that the effectiveness of internal audit depends not only on formal procedures but also on auditor independence, top management support (tone at the top), and the proper implementation of the three lines of defense model. The findings suggest that securities companies should strengthen the capacity of their internal audit human resources and develop more transparent reporting systems to enhance governance and compliance effectiveness.

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