A team of accounting undergraduate students from the class of 2021 at the Faculty of Economics and Business Universitas Gadjah Mada (FEB UGM) won first place in the audit competition at the 23rd Auditor’s Transformation Venture (ATV), held at Universitas Indonesia (UI) on March 9, 2024. The team, named Materialiteam, consisted of Aditya Kurniawan, Achmad Zidan Muzaki, and Philip Jakobus Sidabukke, with advisors Dewi Fatmawati, S.W., M.Ec., Ph.D., and Rijadh Djatu Winardi, S.E., M.Sc., Ph.D., CFE.
The 23rd ATV Audit Competition is Indonesia’s oldest and largest annual audit competition, organized by the Professionalism Study of Accountants (SPA FEB UI) in cooperation with KPMG and the Indonesian Institute of Accountants (IAI). This year, ATV UI was attended by 32 teams of accounting diploma (Diploma IV) and bachelor (S1) students from various universities in Indonesia.
Zidan explained that his team won first place after a lengthy selection process. The competition consisted of three rounds: preliminary, semifinal, and grand final. In the first round, each team had to complete a mini case study on paper. The top 15 teams then advanced to the semifinals, where they again competed in a written test, a quiz, and an audit planning exercise. Finally, the top five teams advanced to the final round to present their audit findings to the judges and partners.
“We were assigned as senior internal auditors at a leading FMCG (fast-moving consumer goods) company to focus on auditing the inventory management department, which specifically manages finished goods,” said Zidan.
Zidan said that in the final round, the judge asked each team to prepare a comprehensive audit program as a guide for conducting an audit in the division. The audit included analysis, identification of critical risks, and strategies to address existing issues. Each team had eight minutes to present their work to the judges.
The Materialite team won, but behind their victory was the challenge of developing a comprehensive audit program in a limited time. Developing a thorough audit program required a deep understanding of the audit process and risk identification. Not only did they have to analyze and identify risks, but they also had to convince the judges of their audit findings quickly.
“This presentation tested our public speaking skills and required solid teamwork where all members had to be actively involved. Answering questions from the judges was also challenging, as it required confidence and the ability to think quickly under pressure,” he said.
He added that it was also challenging to balance all the stages of the competition, from the preliminary rounds to the grand finale, with academic responsibilities. “These challenges taught us the importance of discipline, teamwork, and mental resilience in the face of intense competition,” he added.
All their hard work and difficulties were finally rewarded when Materialiteam was named the first-place winner of ATV UI. Zidan expressed his pride and joy after successfully bringing honor to the university and proving that the teamwork and dedication he and his team put in led them to victory.
“There’s also a sense of relief because all the pressures and challenges we faced were handled well,” he said.
In addition to hard work and dedication, Zidan said the team’s success was also due to support from FEB UGM, which helped them from preparation to competition. One form of support was mentoring from the Career and Student Development Unit (CSDU). This mentoring program included guidance from faculty and experienced practitioners in auditing and accounting. They also received public speaking training from Dr. Okkie Putriani to prepare for the final presentation.
Zidan hopes that this experience will help him and his team members develop their skills in auditing and accounting. He also hopes that their accomplishment will inspire other FEB UGM students to take the initiative and continue to excel.
“We also hope to inspire other students not to fear challenges. Every challenge brings new opportunities to learn and grow. Hopefully, this victory can be the first step towards even greater achievements in the future,” Zidan concluded.
Reportage: Najwah Ariella Puteri
Editor: Kurnia Ekaptiningrum
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