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17 July 2019 | Story Valentino Ndaba
Prof Dave Lubbe
Winner of the Southern African Accounting Association Lifetime Achievement Award, Prof Dave Lubbe, has lived a life full of achievements.

The highest body of professional academic accountants in the country, the Southern African Accounting Association (SAAA), recently honoured Prof Dave Lubbe with the prestigious Lifetime Achievement Award at a gala dinner at Emperors Palace in Johannesburg. Prof Lubbe is a Research Associate and an Emeritus Professor at the School of Accountancy at the University of the Free State (UFS).

The SAAA honoured him “for his distinguished service and valuable contribution to accounting education in South Africa”. He was recognised for his contributions to audit committees in the private and public sectors, environmental accounting and auditing, the philosophy of auditing, audit risk and the expectation gap between the audit profession and users of financial information. 
     
A friend of firsts

Prof Lubbe was the first person to attain a doctorate in Auditing in South Africa, the first to author an Afrikaans auditing handbook, the first South African recipient of the Ernst & Young Outstanding Accounting Research Award in 2002 and the first Chartered Accountant to be awarded the Stals Prize for Economic and Management Sciences by the South African Academy for Science and Arts in 2007.  

His astounding track record also earned him the university’s 2018 Executive Management Award at the 36th Chancellor’s Distinguished Alumni Awards. Not only is he a former master’s student at the university, but he also went on to serve as a senior lecturer for 41 years.

Called to serve

In his lifetime, Prof Lubbe has answered the call to serve as a management consultant, committee member, a forensic accountant, and an assessor to high court fraud cases. 

Beyond the field of accounting
 

His achievements span beyond the accounting field. Not only has Prof Lubbe completed all of South Africa’s well-known ultramarathons, he holds a black belt in karate. His love for art on the other hand, has seen him win national poetry competitions and establishing himself as a lyricist.

News Archive

UFS finances are fundamentally sound
2007-12-01

The finances of the University of the Free State (UFS) remain fundamentally sound and a higher than expected surplus of about R26 million was achieved in the 2007 budget.

This announcement was made last week during the last meeting of the UFS Council by Prof. Frederick Fourie, Rector and Vice-Chancellor.

“Up to now, we could finance the considerable investments in the infrastructure from discretionary funds, in spite of the fact that Council granted us permission during 2005/06 to take up a loan of R50 million for this purpose,” said Prof. Fourie.

The higher than expected surplus of about R26 million will be used among other things for the financing of infrastructure in order to further postpone the taking up of a loan.

In support of the drive to reposition the UFS nationally as a university that is successfully integrating excellence and diversity, R5 million will be made available from the surplus for this purpose.

The Council also approved the following allocations for 2008 for the key strategic pillars of a good practice budget for the university:

Information sources: R21,1 million
IT infrastructure: R3,5 million
Replacing expensive equipment: R7,05 million
Research: R18,1 million
Capital expenditure: R28,2 million
Maintenance capital assets: R18,2 million
Reserves: R6,3 million
Personal computers for the computer laboratory: R3,5 million

For the Qwaqwa Campus R2,5 million has been set aside for these issues.

In terms of strategic priorities R8 million was allocated for the academic clusters, R2 million for equitability, diversity and redress and R6 million for equity.

The projected income for 2008 will be R849 million, while the projected expenditure, excluding transfers, will be R694 million.

“Council further approved that discretionary strategic funds be largely voted to the further upgrading of the physical infrastructure, especially the Chemistry Building, the computer laboratory building, examination venues and the Joolkol,” said Prof. Fourie.

According to Prof. Fourie, funds have been reserved for the development of the academic clusters, as well as the continuation and acceleration of the transformation programme of the UFS.

“We have also managed to revise the conditions of employment of contract appointments and align it with the latest labour practices. The phasing in of the fringe benefits of this specific group of staff members will commence in 2008,” said Prof. Fourie.

Given the dependence of the income of the UFS on student numbers, a task team was formed last year to investigate the continued financial sustainability of the UFS. The core of this task team’s recommendations is:

to increase the third income stream by using the academic clusters as the main strategy; and to apply strategies such as the recruitment and extension of the postgraduate and foreign student corps, increase the income from donations and fundraising, etc.

Media Release
Issued by: Lacea Loader
Assistant Director: Media Liaison
Tel: 051 401 2584
Cell: 083 645 2454
E-mail: loaderl.stg@ufs.ac.za
30 November 2007
 

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