economy

OJK Encourages Development Of Internal Audit Profession In Indonesia

"The Financial Services Authority (OJK) emphasizes the need to optimize the use of technology such as generative AI and data analytics in order to create efficiency and effectiveness in the internal audit profession. This is part of the development of internal audit competencies that are important in improving the governance of the Financial Services Industry.

This was conveyed by OJK Audit Board Chair Sophia Wattimena in the Road to Internal Auditor Conference 2024 Seminar on Global Internal Audit Standards (GIAS) With Local Perspectives: A Deep Dive Into Internal Audit Practices at Padjadjaran University Bandung last weekend.

""OJK as a regulator in the financial services sector, regularly encourages the active role of internal auditors as the 3rd line of the organization, and supports the development of the competence of internal auditors on a regular basis in order to have good standards, one of which is a certification program related to internal audit,"" said Sophia.

Sophia further said that Internal Audit must understand organizational risks, and be able to effectively communicate audit results to the Board by submitting Significant control weaknesses & Robust Root Cause Analysis. In addition, internal audit standards need to be continuously updated to ensure alignment with internationally applicable standards such as the Global Internal Audit Standards (GIAS).

The seminar was also attended by the Rector of Padjadjaran University, Chairman of the National Executive Board of the Indonesian Institute of Accountants (IAI), Chairman and Board of Trustees of the Internal Audit Education Foundation (YPIA), and internal auditor practitioners from various industries.

In addition to the seminar, the Road to Internal Auditor Conference 2024 activity was also continued with the inauguration of the Indonesia Internal Audit Innovation Center at Padjadjaran University which will focus on developing human resources and tools for the internal audit profession in Indonesia."