Competition to test students’ AI proficiency

Accounting students can measure their AI acumen and knowledge against others like them in a contest that will be held by CPA education platform TrueUp. 

Vince LoRusso, CEO and co-founder of TrueUp, has long had a love for competitions and games ever since he took part in one hosted by PwC when he was in college. From there he organized a similar contest through his school’s accounting club. After a stint at PwC in Buffalo, he eventually founded TrueUp which has a wide variety of educational games for accounting students, as well as creates similar content for CPE platforms. 

This competition, called TrueUp’s Race the AI Challenge, is the seventh such contest the company has run since its founding. Most recently it held a student competition for blockchain knowledge and skills, which attracted students from 32 universities as well as supervising mentors from 34 CPA firms. The impact of AI on the accounting profession in such a short time inspired LoRusso to launch this competition, saying students need to get hands-on experience with the technology. He considers himself a learn-by-doing person and thinks contests like this will be valuable in educating students about AI and how it relates to accounting. It also combines four things he loves. 

“I love education, I love content creating, I love technology, and I love accounting, so all of that comes together,” he said. 

The event will be held in partnership with accounting automation solutions provider Digits, which will be co-hosting the competition and providing a platform for hands-on exercises. 

The contest is a two-week virtual competition that opens on Oct. 21. Student teams (consisting of four students max, plus one optional faculty advisor) are matched with a mentor from a nearby accounting firm who provides guidance and assistance with the challenges. 

Students will begin by completing four games on TrueUp’s website created specifically for this contest, each one taking about 15 to 20 minutes to complete. The games provide an initial education on AI and how it relates to accounting, with the first covering the fundamentals of AI and the other three going over its application to their chosen careers. The games assume a scenario where, in the year 2050, the economy is in a major crisis due to poor AI implementation in the past, particularly at the fictional company FastLedger, which is a major player in the future. 

“It’s up to you to go back in time and join FastLedger’s development team responsible for creating AI models that automate accounting and financial reporting,” says the competition website in its description of the scenario. “Your mission: Help FastLedger develop and test their AI models for any issues before they launch to the marketplace! Be diligent and on your game because once FastLedger releases their AI models to the marketplace, adoption will happen so quickly we won’t be able to correct any mistakes. You will have TrueUp games and learning resources on AI to guide you to ensure your success!”

Once they finish the games, players then make a 10-minute video presentation that also functions as an AI Adoption Plan. This, LoRusso said, is the main part of the contest; the games help students mentally prepare for making the video. 

LoRusso said that students can take this video in a number of different ways, such as doing a cost/benefit analysis of AI adoption or discussing the future role of the accountant in an AI-mature economy. Final submissions for the video will be due Nov. 4. The judges will watch the videos and announce a winner about one week later. LoRusso said teams will be judged on accuracy, creativity and overall presentation skill. 

“Not from a quantitative standpoint, but qualitative, we want the students thinking, ‘OK, this is a great tool. What’s it going to cost and what’s the benefit? And then how do we re-skill?'” he said. 

Students theoretically could use AI to make their videos. “There’s no way to really prevent them,” said LoRusso, but added that this is why a lot also hinges on presentation. If students do use AI, they should work that fact into the presentation itself. 

“You could even tell in a student’s voice whether they’re reading from ChatGPT or they put in actual thought…  One of the key skills that has always [needed] is critical thinking, but now more than ever,” said LoRusso. “And that’s why [we say,] ‘OK, we’ll let you use AI, but give us a review of what the AI output was. Tell us your thoughts on their output,.” 

The winners will receive a cash prize. In order to qualify, students must be registered at an accredited university based in the U.S. and be concentrated in accounting, information systems, finance or business as a major. Students from any class level are welcome. Registration opens Sept. 1, 2025. Contestants must register before Oct. 14, 2025.