Report on ICAEW-MACFIS Business Challenge 2017

Date: 31st March 2017
Time: 11:30am – 6pm
Location: Chartered Accountants Hall, Moorgate, London.

This business challenge was organised by ICAEW Malaysia and MACFIS. This year, winners of the business challenge could win internship opportunities from any of the six participating companies which are PWC, KPMG, Maybank, Deloitte, EY, Ambank and UEM. There were 18 teams and 22 individuals who signed up for this business challenge. However, after a round of CV screening, only 14 teams were selected to participate in this challenge.

Registration started at 11:30am, participants joined the networking lunch after registering themselves. During the networking lunch, a welcome speech was given by ICAEW Deputy President, Nick Parker following by a speech given by MACFIS President, Kau Hau Jian. Then, People Partner from PwC, Pauline Ho gave a patron speech. Judges were invited to another room for judges’ briefing after that.

At 2pm, Adam Moore from ICAEW explained the rules and regulations of the Commercial Awareness Session to the participants before the business challenge officially started. The business challenge started off with a half an hour session of case study reading and group discussions. Participants were given a few practical questions about Commercial Awareness and also presentation questions. At 4pm, 6 teams and judges were asked to move to Main Reception Room for presentation while 6 other teams and judges remained in the Great Hall. Each team were given 6 minutes for their presentation and 1 minute to answer a question from the judges. After the presentations given by all teams, judges deliberated in the Main Reception Room to discuss about the winners of this business challenge.

The runner ups were team Meraki and team The Visionaries, and the champions of this business challenge were team CLWCA and Wolf of Oxford Street. The prizes for the runner ups were £400 cash prize and also internship opportunities in any of the participating companies while the prizes for the champions were £500 cash prize and internship opportunities in any of the participating companies. The best speakers for this business challenge were Chang Han Jien and Muhammad Hafiz bin Adenan and they had won flight tickets to any ASEAN countries sponsored by Maybank.

Overall, we have received positive feedbacks from the participants in terms of efficiency compared to last year’s business challenge. One of the constructive feedbacks is to update the business challenge event page instead of posting the relevant posts on our own MACFIS Facebook page, hence causing inconvenience to participants who did not like our MACFIS page. Besides, one of the participants also suggested us to include CV submission through Google form to smoothen the registration process so that participants would not have to submit their CVs through emails which had caused misunderstandings. Some of the MACFIS members were unclear about the competition process, hence were not able to answer the questions regarding the business challenge when participants approached us. Therefore, a detailed briefing could be given beforehand for our upcoming events to prevent any misunderstandings and miscommunication.

All in all, it was a successful flagship event. The MACFIS committees will learn from the mistakes and work hand in hand for our future events.


Prepared by,
Li Qian Wan
Junior Executive in Secretariat Office 2017/18

Malaysian Accounting and Finance Society for UK & Ireland (MACFIS)

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