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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

Research conducted on economic impact of recent international soccer and rugby matches for Bloemfontein
2004-09-09

The Centre for Development Support at the University of the Free State (UFS) recently conducted a survey on the economic impact of the international soccer and rugby games that were played in Bloemfontein earlier this year.

The research focused on the soccer match between Bafana Bafana and the Cape Verdic Isle and the rugby match between the Springboks and Ireland .

“The survey was done as a result of a research agenda about local economic development in Bloemfontein ,” said Dr Lochner Marais, researcher at the centre.

“We conducted the research by doing 402 interviews with soccer supporters and 376 interviews with rugby supporters from outside Bloemfontein ,” said Dr Marais.

The centre distributed questionnaires, collecting the following information on the soccer and rugby supporters: their age, gender and origin, the number of nights spend in Bloemfontein , their household expenditure in Bloemfontein and their rating on the quality of service.

“It is estimated that 10 800 soccer supporters and 27 000 rugby supporters came from outside Bloemfontein . Of the rugby supporters 14,4% were female and 85,6% were men. For the soccer international the percentage was 33% females and 67% males,” said Dr Marais.

The highest number of people who came to watch the soccer game in Bloemfontein (35,8%) was from the Northern Free State . The rugby supporters mainly came from Gauteng (21,8%) and the Northern Free State (18%).

When visiting Bloemfontein soccer supporters spend R912 per household, whilst rugby supporters reached deeper in their pockets and spent R1 807 per household.

“The survey indicated that the two international matches resulted in approximately R58 million been spent in Bloemfontein . Rugby supporters were accountable for the largest part (R48 787 205) spent. The largest chunk of the money spent was on accommodation (R14 593 279). On average soccer and rugby supporters from outside Bloemfontein spent 1,4 and 1,9 nights in Bloemfontein ,” said Dr Marais.

Rugby and soccer supporters were also asked to rate the quality of service received from amongst others hotels, guest houses, restaurants, and transport and entertainment facilities. Soccer supporters rated their satisfaction with services higher as rugby supporters. The rugby supporters gave the services at hotels a 3,9 rating, whilst soccer supporters awarded 4,6 rating out of a possible five.

Media release
Issued by: Lacea Loader
Media Representative
Tel: (051) 401-2584
Cell: 083 645 2454
E-mail: loaderl.stg@mail.uovs.ac.za
9 September 2004
 

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