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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

Water research aids decision making on national level
2015-05-25

Photo: Leonie Bolleurs

With water being a valuable and scarce resource in the central regions of South Africa, it is no wonder that the UFS has large interdisciplinary research projects focusing on the conservation of water, as well as the sustainable use of this essential element.

The hydropedology research of Prof Pieter le Roux from the Department of Soil, Crop and Climate Sciences and his team at the UFS focuses on Blue water. Blue water is of critical importance to global health as it is cleared by the soil and stored underground for slow release in marshes, rivers, and deep groundwater. The release of this water bridges the droughts between showers and rain seasons and can stretch over several months and even years. The principles established by Prof Le Roux, now finds application in ecohydrology, urban hydrology, forestry hydrology, and hydrological modelling.

The Department of Agricultural Economics is busy with three research projects for the Water Research Commission of South Africa, with an estimated total budget of R7 million. Prof Henry Jordaan from this department is conducting research on the water footprint of selected field and forage crops, and the food products derived from these crops. The aim is to assess the impact of producing the food products on the scarce freshwater resource to inform policy makers, water managers and water users towards the sustainable use of freshwater for food production.

With his research, Prof Bennie Grové, also from this department, focuses on economically optimising water and electricity use in irrigated agriculture. The first project aims to optimise the adoption of technology for irrigation practices and irrigation system should water allocations to farmers were to be decreased in a catchment because of insufficient freshwater supplies to meet the increasing demand due to the requirements of population growth, economic development and the environment.

In another project, Prof Grové aims to economically evaluate alternative electricity management strategies such as optimally designed irrigation systems and the adoption of new technology to mitigate the substantial increase in electricity costs that puts the profitability of irrigation farming under severe pressure.

Marinda Avenant and her team in the Centre for Environmental Management (CEM), has been involved in the biomonitoring of the Free State rivers, including the Caledon, Modder Riet and part of the Orange River, since 1999. Researchers from the CEM regularly measures the present state of the water quality, algae, riparian vegetation, macro-invertebrates and fish communities in these rivers in order to detect degradation in ecosystem integrity (health).

The CEM has recently completed a project where an interactive vulnerability map and screening-level monitoring protocol for assessing the potential environmental impact of unconventional gas mining by means of hydraulic fracturing was developed. These tools will aid decision making at national level by providing information on the environment’s vulnerability to unconventional gas mining.

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