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20 June 2018 Photo Valentino Ndaba
Justice Malala and Bernard Agulhas build students business acumen
Bernard Agulhas, engaging students on the auditing world at the Business Acumen day recently hosted by the School of Accountancy.
“Auditors need to have a challenging and sceptical mindset,” said Bernard Agulhas, CEO of the Independent Regulatory Board of Auditors (IRBA), the regulating body responsible for investigating and disciplining auditors. Agulhas presented a talk titled: ’Restoring confidence in the audit profession – the South African story’ at the Business Acumen Day recently hosted by the School of Accountancy at the University of the Free State (UFS).
 
Agulhas shared insights into some of South Africa’s recent auditing scandals surrounding KPMG and the Guptas, Eskom and SA Airways, among others..About 305 BAcc third-year, Postgraduate Diploma in General Accountancy, BCom AccHons, and BAccHons (CTA) students had the privilege of being exposed to the expert opinions of Agulhas and political commentator Justice Malala.
 
Building on Agulhas’s argument, Malala proposed that, “Ethics is at the core of what we should be and should do,” adding that, “the only thing standing between you and anarchy is having institutions like the UFS.”

Malala presents The Justice Factor on eNCA and is also a columnist of note. This award-winning journalist has had his work published internationally in newspapers such as The Wall Street Journal, Financial Times, The Telegraph, The Independent, Forbes and Institutional Investor, among others. His broad perspective shed a different light on political and economic issues currently engulfing South Africa, and encouraging the auidence to apply their critical thinking skills.

Prof Hentie Van Wyk, Head of the School of Accountancy also encouraged students to engage in lifelong learning in alignment to the CA2025 project championed by the South African Institute of Chartered Accountants (SAICA).
 
According to SAICA: “In a world of exponential and continuous change, it has become more critical than ever to ensure that CAs (SA) remain relevant in the roles they perform. The CA2025 project being undertaken is formally researching the competencies, including knowledge, skills and attitudes that CAs (SA) will need to demonstrate in the workplace of the future.” 

One of the pervasive skills identified as a key area in the development of CAs (SA), is business acumen. Business acumen is a more professional term for business savvy or business sense. This skill goes hand in hand with critical thinking – a skill that no CA(SA) can do without. With this in mind, the School of Accountancy identified the need to expose students to leaders who, not only possess these skills, but can contribute to their understanding of the profession and the country’s economy, hence the Business Acumen Day held on 4 June 2018 at the Bloemfontein Campus.

News Archive

Report card for UFS outlines major achievements
2005-02-04

Staff at the University of the Free State (UFS) have received above-inflation increases in remuneration averaging 18,2 percent since the year 2000, according to the Rector and Vice-Chancellor, Prof Frederick Fourie.

Delivering a keynote speech at the Official Opening of the UFS today, Prof Fourie gave a report card for the UFS which he said indicated significant progress in salaries and promotions as well as capital expenditure and infrastructure development on the campus.

“The aggregate extra earnings of staff (money in their pockets above inflation) from 2000 to 2005 amount to R75 million in salaries. This is the result of the hard work of all staff and we pay tribute to them,” he said.

Prof Fourie said that several categories of staff are better off than before the financial turn-around strategy was implemented in 2000 which aimed to make the UFS a financially sustainable campus.

The lowest paid workers and professors had received an additional structural correction, which gave professors at the UFS a 27% above-inflation increase (on total remuneration package) since 2000.

He said there had also been a dramatic increase in promotions to associate professor and full professor during the last 6 years.

From 1999 to December 2001, there were only 9 promotions to associate professor. From January 2002 to January 2005, there were 37 such promotions to associate professor, four times as many.

Regarding promotions to full professor, from 1999 to December 2001 there were 7 promotions. From January 2002 to January 2005, there were 31 promotions to full professor, more than four times as many.

“We have also created a new category of senior professor to give due recognition to the outstanding work of our leading academics in many fields,” Prof Fourie said.

The UFS has introduced numerous new and innovative learning programmes, together with an increasing number of community service modules which enhanced the UFS as a leader in service learning and helped to make it a university engaged with its surrounding community.

According to Prof Fourie the number of support staff had also grown along with the professionalisation of the support services.

He said management was aware that there still several challenges regarding staff overload and staff development but that these were being addressed

Media release
Issued by: Lacea Loader
Media Representative
Tel: (051) 401-2584
Cell: 083 645 2454
E-mail: loaderl.stg@mail.uovs.ac.za
4 February 2005

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