Kota Kinabalu: The core of accountancy is supporting trust in the economy, with audit and tax as two key pillars, long before the advent of the Internet, digitalization, and Artificial Intelligence (AI) expertise and automation.
AI automates routine tasks that once took hours, completing them in minutes (e.g., data processing). It enables analysis of larger data sets and more targeted procedures, complementing traditional sampling approaches conducted in accordance with professional standards.
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Will advancements in AI accounting expertise replace Certified Practising Accountants in the future? The answer is a guarded “No” as professional accountants can use AI to support efficiency and analysis, while retaining responsibility for professional judgement.
This was answered during an educational briefing session for undergraduates of Universiti Malaysia Sabah (UMS) School of Accounting on Friday, April 17, 2026 at the MBA Seminar Room, Faculty of Business, Economics and Accounting by two speakers — Madeleine Yam and Benjamin Ho — from EY and Izzuan Rosli from CPA Australia.
Brian Wong, Assurance Resident Partner of EY in Sabah, shared general professional perspectives during an interview with Daily Express before the “Navigating the Professional Accounting World: An Industry Session by CPA Australia and Ernst & Young” started, with CPA Australia Business Development Manager Izzuan Rosli sharing the benefits of joining CPA Australia.
CPA Australia, founded in 1886, is one of the world’s largest accounting bodies with over 176,000 members across 100 countries and regions. As CPA Australia marks its 70th anniversary in Malaysia, its membership has swelled to over 10,000 members across a broad range of industries with a significant number in high-income careers in leadership positions.
Izzuan stressed that while AI can automate repetitive tasks, it cannot replicate the professional judgement, ethical reasoning, and the level of trust in client relationship management that professional accountants bring to their work.
“What are you looking for in a professional accounting qualification? Global recognition, career opportunities, high passing rate, interactive study resources, ease of completing the programme, structured learning, going beyond just the technical skills, flexibility, and manageability?”
Izzuan has been with CPA Australia for more than two years, and he said that AI and professional competency is vital as accountants who effectively use AI will remain valuable, while those who do not, need to adapt to incorporate AI into their workflow to stay competitive.
This view was also reiterated by EY manager Madeleine Yam, who highlighted the importance of public trust in the accountancy profession during her presentation titled “Shaping the Future of Accountancy: Technology, Competency and Confidence.”
She emphasized the credibility of professional accountants is grounded in integrity.
Madeleine said the real test lies in trust: “Can stakeholders have an appropriate level of confidence in financial information to support informed decision-making?”
Addressing the impact of technology, Madeleine noted that while digital tools and AI are transforming the profession, they cannot replace the human mindset.
“What technology cannot replace is professional judgement,” she said, adding that AI is expected to enhance accountants’ capabilities by improving efficiency and enabling deeper, more meaningful analysis, rather than replacing them.
According to Madeleine, essential competencies for future accountants include critical thinking, communication, and adaptability. Success in the profession depends on the confident use of technology, strong foundational skills, and a commitment to continuous learning.
UMS undergraduates also learned that accounting skills are highly transferable in a rapidly evolving business environment. With a strong accounting foundation, graduates can pursue diverse pathways in banking, corporate roles, and other industries.
The afternoon session highlighted the evolution of the accountant’s role from traditional compliance functions to that of strategic advisors who leverage technology such as AI.
Madeleine reiterated that technology serves as an enabler, allowing accountants to work more efficiently while providing timely insights.
The long-held perception of accountants as bookkeepers or compliance checkers is changing. Today’s accountants are increasingly recognised as advisors, data interpreters, business partners, and strategic thinkers who contribute to organisational decision-making.
Meaningful professional contributions, she noted, come from asking the right questions, applying professional scepticism, and offering insights to support management’s understanding of risks.
She emphasized that auditors play an important role in supporting market confidence by providing independent assurance in line with professional standards, which is essential for sound economic decision-making.
In concluding, Madeleine encouraged students to embrace technology as a tool for greater impact rather than viewing it as a threat. “Technology changes how you work.
Competency determines how well you work. Confidence determines how far you go. Confidence is not about knowing everything, but about the ability to adapt and learn,” she said.
Meanwhile, EY senior manager in the tax practice Benjamin Ho said he is cautiously optimistic that technology and AI won’t replace accountants—provided professionals actively build and maintain competency, stay current, understand tech’s risks and benefits, and use it as a tool without ceding critical thinking.
Malaysia’s tax environment is evolving, partly due to the increasing role of technology in tax compliance and enforcement. A key example is mandatory e-invoicing for all businesses.
The role of a tax professional like Benjamin, who spoke to the UMS students at the event, is to guide clients through a complex, evolving tax landscape.
Tax affects everyone, not only the wealthy; it’s embedded in daily life and all taxpayers must have the knowledge and support to comply with the provisions of the tax law.
Common Malaysian taxes include income tax, real property gains tax, stamp duties, service tax (including service tax on digital services), sales tax, import duties, and excise duties.
With electronic filing (or “e-filing”), taxpayers and professionals input data into software that auto-populates tax return forms, eliminating manual form-filling.
“Tax is really a complicated subject. We always think tax is only for the rich, only the rich need to know tax. But today is Friday, you go out for dinner, you pay service tax. You buy a car, sales tax and potentially excise duties and import duties would apply. You pay a subscription for Netflix or Spotify, you pay digital service tax.
By the extended deadline of 15 May, all individuals with employment income must submit their personal income tax returns electronically and pay their balance of tax, if any.
“Tax is all around us, whether you like it or not and tax obligations are embedded in business processes. You would have heard of e-invoicing? Nowadays, most businesses, except those exempted from mandatory e-invoicing, must issue an e-invoice.
“The landscape is changing as fast as our technology is changing. So, as a tax professional, what we do in EY is to help our clients navigate this complex landscape. That’s what we do on a day-to-day basis,” Benjamin said.
He narrated on the evolution of the tax profession in Malaysia, emphasizing growing legislative complexity and the transformative impact of technology, recounting a shift from manual, paper-based tax returns to online processes with advanced software. Technology is beneficial when used as an assistive tool.
Benjamin opines that technology, including AI, is a powerful enabler that automates routine work, but it cannot replace the critical thinking, communication, and trust-building fundamental to professional practice.
“For tax professionals, regular interaction with the relevant authorities is part of navigating the regulatory environment. This involves the Inland Revenue Board for income tax, and the Royal Malaysian Customs Department for indirect taxes like sales tax and service tax.
You need that human interaction and communication skills,” Benjamin explained.
He said that to stay relevant and avoid obsolescence, future accountants must cultivate technical excellence, understand business contexts, and build strong client relationships.
Decisions ultimately require human oversight and judgement, even when supported by advanced technology, and the human factor is crucial in cultivating trust.
Benjamin said: “Technology supports analysis and efficiency, but accountability continues to rest within established professional and governance frameworks. Ultimately, people will have to make decisions.
You need to have the competency to learn, analyse and communicate. You need to know that technology can help you to develop your technical skills, can help you to research more easily, and can help you with routine tasks.”
Trust grows through relationships and demonstrated personable expertise, which AI cannot replicate. It is a uniquely human edge to be able to understand clients’ pain points, motivations, and needs, and hence the continuing importance of human trust and accountability.
UMS students were told to build confidence in three areas: their skillset, where their career is heading, and ability to earn clients’ confidence.
By focusing on technical excellence, business understanding, communication skills and lifelong learning, they can pursue diverse career pathways that continue to evolve alongside technological change.
“You don't just need to understand accounting and the tax law — you need to understand the industry and business, and the context in which the tax law is to be applied. Because different sectors, different businesses have different needs and they have different business requirements.
“And last but not least, you need to know your clients. This part no AI can replace. If you know your clients, you know your clients' pain points. You know what motivates them, you know what they need. Only you can build the relationship. And only you can build the trust,” said Benjamin.
