AFRC x Cyberport: AI Applications for the Accounting & Audit Profession

Mr. Chan reaffirmed the Government’s commitment to strengthening Hong Kong’s position as a leading international financial centre, while ensuring security through the responsible use of AI.

He noted that cooperation among financial regulators reflected a coordinated approach to fostering AI‑driven innovation and effective oversight. These initiatives demonstrated how AI can enhance efficiency, accelerate transformation, and reinforce trust across the financial sector. 

Ms. Lai emphasised that the AFRC fully supported the HKSAR Government’s innovation and smart economy agenda, and is actively promoting AI adoption to accelerate digital transformation across auditing and accounting.

She called on stakeholders to collaborate as “super connectors,” using AI to enhance service quality and build a more competitive ecosystem. She also affirmed that while AI reshaped how work was done, professional judgment, ethics, and accountability remained  fundamental to the profession.

Mr. Chan highlighted Cyberport’s pivotal role in nurturing emerging technology firms and supporting Government initiatives — from early-stage development through to commercialization- while embracing the “AI+” trend. He noted that these efforts are helping to advance Hong Kong’s digital transformation and industry upgrading, while maintaining an appropriate balance between innovation and governance. 

Mr. Yim underscored Cyberport’s role as a bridge between innovation and industry, providing a platform for startups to scale and for established enterprises to adopt new technologies. He noted that by enabling collaboration, investment, and digital adoption, Cyberport is supporting Hong Kong’s transformation and sustainable industry upgrading. 

Mr. Poon shared how Alibaba Cloud enables enterprises to build and deploy GenAI applications on the cloud with speed, reliability, and compliance in mind. He emphasized the availability of ready‑to‑use models and tools that lower adoption barriers, helping organizations of different sizes to integrate AI seamlessly and enhance service quality. 

Ms. Jin reflected on the journey from AI development to AI agents, highlighting how this shift is reshaping the financial services industry. She emphasized the potential of AI agents to streamline operations, improve efficiency, and generate deeper insights — while underscoring the importance of governance, security, and responsible adoption.

Mr. Liao highlighted Tencent Cloud’s initiatives in response to the rapid evolution of AI, including practical applications in accounting and auditing that significantly improve efficiency. He emphasized responsible adoption, stressing that as AI transforms processes, professional ethics, governance, and public trust must remain protected. 

AMC demonstrated how AI can support auditors in risk assessment processes, including Financial Statement Line Item (FSLI) mapping, materiality calculations, and preliminary analytical reviews, thereby enhancing the efficiency and overall quality of audit planning. By enabling auditors to raise the bar of work quality through its patented Cascade-Driven Planning methodology and customisable iWorking Papers, AMC Insight combines intuitive design with avant-garde solutions that significantly boost audit efficiency. Through data-driven insights and structured workflows, the solution further supports auditors in exercising professional judgment, while strengthening reliability, consistency, and governance throughout the audit process. 

Cannex showcased how compliant financial statements — including directors' reports, trial balance reconciliation and mapping to financial statements, audit lead schedules, and full AFS generation — were prepared through AI applications. AI also served as a disclosure checklist, ensuring that disclosures were accurate, consistent, and complete. This approach enhanced reliability and efficiency across the entire financial reporting workflow. 

DataSnipper demonstrated how audit procedures can now be automated simply by providing instructions to the Excel Agent. Using AI-powered automation, the solution extracts and populates data directly from supporting documents such as PDFs, images, invoices, contracts, and other documents into Excel working papers, significantly reducing manual effort and accelerating audit workflows.

The session also showcased how reviewers can seamlessly validate outputs through built-in cross-referencing and traceability to source documents, ensuring greater accuracy, consistency, and transparency throughout the audit process. 

Laiye presented AI solutions for automating invoice processing across multiple formats. Its data mapping to categories and FSLIs, combined with bookkeeping automation, was positioned as an enabler of consistent data structuring and a stronger foundation for financial analysis. 

vbiz introduced an integrated AI Assistant that quickly summarized key financial figures to support analysis and decision-making. It also automated invoicing, cash settlement, and other workflows, helping teams reduce manual effort and improve efficiency.