Power of Knowledge: Application and Challenges

Source: giphy

“Knowledge is power, but sharing is empowerment” 

Knowledge management embodies this quote. It is important that knowledge within the organization is distributed to its members to ensure growth, development, efficiency, and effectiveness of employees during work.

The benefits of having knowledge management are important to many organizations. In Commission in Audit, knowledge management is useful in developing young auditors to fill the roles of the senior auditors within the organization. This will encourage employees to develop new circulars and memorandums to clarify vague guidelines in Philippine Public Sector Accounting Standards. Sharing of knowledge can help the organization and employee grows and when it is time for them to retire, the organization can avoid losing such expertise and knowledge. 

One of the biggest challenges in Knowledge Management in COA is the competition for promotion. Promotion reflects the knowledge and expertise you have especially with a requirement that needs a position paper to be promoted. Another challenge is the practices of government agency being audited by the COA members. All the government agencies, government owned and controlled corporations and local government units is being edited by the commission making it difficult to consolidate the strategies and expertise of different members assigned from different agencies. This is also true when it comes to cultural practices of different regions and sectors throughout the country.