KNOWLEDGE MAPPING TO IMPROVE ORGANIZATION CAPABILITY IN INTERNAL AUDIT OF INDONESIA STOCK EXCHANGE

• Main Author: Andriansyah Harimurti, Bima
• Format: Theses
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/78028
• Institution: Institut Teknologi Bandung

Despite the COVID-19 pandemic, which has had a detrimental influence on the world economy, the Indonesian Capital Market saw a significant increase of local retail investors in 2020. This favorable environment persisted through 2021-2023. The number of capital market investors is growing tremendously from 281 thousand investors in 2012 to 1,1 million investors (299%) in 2018 and 10.3 million investors (818%) in 2022. Listed companies, which are the most contributing to IDX daily turnover from equity transactions, also growing significantly from 459 companies in 2012 to 566 companies (23%) in 2018 and 825 companies (46%) in 2022. Considering Indonesia Stock Exchange’s (IDX) high growth and IDX’s key responsibilities in creating a trusted and credible financial market infrastructure to deliver a fair, orderly, and efficient market, the need of developing a more robust knowledge management system to support the stock exchange operations is getting more critical. This condition is also corroborated by IDX current position as the sole capital market trading infrastructure provider in Indonesia, which makes some of the knowledge needed to operate the stock exchange function can only be obtained by years of working experience as IDX employee. To overcome this challenge, IDX started to establish IDX competency dictionaries in 2017 which comprise of behavioural and technical competencies that apply to all divisions in IDX. As the internal audit role grows to not only as a watchdog but also as a trusted advisor dan strategic partner to the management, internal audit also needs to identify its knowledge needs and establish the method to obtain and retain that knowledge to keep up with the organization’s development. In order to better manage the required knowledge within IDX’s Internal Audit, this research try to identify critical knowledge and formulate key steps to do so by performing gap analysis and knowledge mapping. The research is carried out utilizing qualitative methodology through document analysis and interviews. This study uses a variety of knowledge management approaches to address knowledge mapping, knowledge gaps, and knowledge loss. According to the study's results, the author identifies knowledge gap and offers several recommendations regarding Knowledge Development Program to close the knowledge gap and the Knowledge Retention Program to build on the knowledge that Internal Audit already possesses.