Inaugural AI audit challenge connects undergraduates with industry tools, professional expertise and the evolving realities of technology-enabled auditing.

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The School of Accounting and Finance (SoAF) at Asia Pacific University of Technology & Innovation (APU), in collaboration with the Association of Chartered Certified Accountants (ACCA) Malaysia, recently organised and hosted the inaugural APU-ACCA Intervarsity AI Analytics Audit Challenge (AIICHA) 2026, bringing together talented accounting and finance undergraduates to tackle one of the profession’s most pressing frontiers — artificial intelligence. 

The full-day competition featured five finalist teams from institutions across Malaysia, including Universiti Tunku Abdul Rahman, Universiti Putra Malaysia, AIMST University and Quest International University. The finalists had emerged among the Top 5 following a two-month preliminary round. 

Preparing Students for Technology-Driven Auditing

AIICHA was designed against the backdrop of rapid transformation across accounting and audit practices, where AccTech, FinTech and AI-driven tools are increasingly reshaping professional workflows. 

With growing attention also placed on AI governance, ethics, bias, data protection and responsible technology adoption, the challenge allowed students to move beyond classroom theory and apply these considerations within a realistic audit setting. 

Using synthetic audit datasets, teams were required to design and justify an AI-assisted audit approach, produce supporting audit evidence, identify key risks and present appropriate governance safeguards. 

The exercise reflected the evolving nature of AI assurance, where auditors increasingly need to combine professional judgement with technological literacy, data interpretation and an understanding of responsible AI practices. 

Turning AI Theory into Hands-On Practice

Supporting the technical component of AIICHA was software partner AMC Group, whose suite of AI-powered solutions is currently subscribed to by APU. 

A defining feature of the competition was participants’ exposure to AMC Cheers, AMC Group’s AI-enabled accounting and audit software. 

Led by AMC Group Director, Mr Eric Chia, four bootcamp sessions were conducted for participants ahead of the competition, equipping them with practical guidance on the use and capabilities of the platform. 

During the challenge, teams used the software to process synthetic audit data, identify anomalies and generate supporting audit evidence. This provided participants with a practical understanding of how AI tools can be integrated into professional audit workflows. 

For many students, it was their first direct experience with a professional-grade AI audit solution, reinforcing the importance of AI literacy as an increasingly essential competency for aspiring auditors. 

Learning Directly from Professional and Industry Leaders

The event opened with remarks by Professor Ts Dr Murali Raman, APU’s Deputy Vice-Chancellor (Academic Development & Strategy). 

This was followed by a keynote session featuring Dato’ Saniza Said, President of the Malaysian Institute of Accountants (MIA); Datuk Ts Fadzli Abdul Wahit of Malaysia Digital Economy Corporation (MDEC); and Mr Andrew Lim, Portfolio Head, Maritime Southeast Asia, ACCA. 

Finalist teams later presented their solutions before a distinguished judging panel comprising representatives from ACCA and its recommended industry partners, including professionals from Big Four firms. 

Industry booths by leading firms and sponsoring organisations further enabled students to engage directly with practitioners and prospective employers, gain insights into changing industry expectations and understand how technology is influencing accounting and assurance careers. 

Extending Innovation Beyond the Competition 

Running alongside AIICHA was a Final Year Project (FYP) Research Showcase, curated by Dr Ooi Bee Wah, Assistant Professor at SoAF, and Mr Mohd Karim Abdul Majed, Lecturer at SoAF. 

The showcase featured final-year student projects with a strong technology orientation, ranging from AI-driven analytics tools and automation solutions to data-focused applications. 

Students presented their work through infographics, posters, presentation slides, and supporting resources as VIPs, guests and competition participants explored the exhibition. 

Each project was assessed by Dr Marjea Jannat Mohua and Dr Lau Shu Chui, both academics from SoAF, to identify the Best Presenter. 

Together, the competition and showcase demonstrated how emerging technologies are becoming embedded across students’ learning, research and professional preparation. 

Partnership that Connects Education with the Profession

Reflecting on the event, Professor Dr Chong Lee Lee, Head of SoAF, said the collaboration provides students with an important bridge between academic learning and professional practice.

“Hosting AIICHA reinforces APU’s position at the forefront of technology-driven business and accounting education. The event underscores our ongoing commitment to innovation in AI-enabled auditing and analytics, while our collaboration with ACCA Malaysia continues to open doors for students to connect with practitioners, regulators and professional bodies,” she remarked.

Professor Chong also expressed appreciation to BDO Malaysia, High Pines Training & Consultancy Sdn. Bhd., Razer Merchant Services Sdn. Bhd. and Masverse Sdn. Bhd. for supporting the initiative. 

Through AIICHA, APU and ACCA are providing undergraduates with more than a competitive platform. By combining professional knowledge, AI-enabled tools and direct industry engagement, the initiative helps students build the technical confidence, professional awareness and industry connections needed to navigate the next generation of accounting and audit practice.