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UFS Accounting students win Project Alpha competition

21 June 2019 | Story Valentino Ndaba | Photo Ernst & Young

UFS Accounting Students win EY Project Alpha — At the Ernst & Young Project Alpha 2019 Awards, some of the members of the winning team, from left: Kyle du Bruyn, Luke Rhode, Janri du Toit, Nicolaas van Zyl, Mojalefa Mosala (Business Ethics Lecturer), Bianca Malan, Lorandi Koegelenberg and Frans Benecke.

A few years ago the news was saturated with Volkswagen’s (VW) fuel emission scandal. “Dieselgate”. Investigations in the US found the German automaker guilty of programming computers in their diesel cars to alter its engine operations to seemingly meet legal emission standards.

A question of ethics

A notice of violation of the Clean Air Act issued by the US Environmental Protection Agency had dire consequences for the automobile company, but positive implications for the economy and the environment. As part of a lawsuit settlement, vehicles were recalled, fines were paid, and approximately 21 million affected vehicles with VW diesel engines were refitted by September 2015.

Project Alpha tackles ethical issues

A group of eight students from the University of the Free State (UFS) presented their case study of “Dieselgate” to a panel of judges in this year’s Ernst & Young Project Alpha competition. They emerged as the ultimate winners.

The “Hoaxwagen” group’s 10-minute video demonstrated “a critical assessment of a multidimensional matter” captivating the judges. “I was impressed, because their presentation addressed other skills such as the ability to present, communicate, come out of their comfort zone and be innovative, while at the same time addressing an ethical issue,” said Mojalefa Mosala, a judge and Business Ethics lecturer at the UFS.

Centred on critical thinking

The UFS is the first university outside of Johannesburg that participated in the Project Alpha contest. Ernst & Young and the UFS have forged a strong relationship over the past few years, giving students a glimpse into the corporate world of accounting.

“Project Alpha encourages critical thinking and not taking things at face value, by looking a bit deeper, spending time to understand the pros and cons of any situation in order to make an informed decision,” said Frans Benecke, member. of the winning team that prevailed over 82 others. Benecke’s team walked away with R2000 shopping vouchers and a life-long learning experience.

Engaging in global conversations

Participation in the competition gave students the opportunity to be exposed to contemporary global thinking, which is strongly advocated in the UFS’s Integrated Transformation Plan.

UFS Accounting students win 2019 Ernst & Young Project Alpha competition from University of the Free State on Vimeo.

News Archive

Old Mutual Investment Group invests in our students

2013-07-22

Old Mutual Investment Group’s Imfundo Trust scholars with Mr Muhammad Brey (far left) and Prof Jonathan Jansen, Vice-Chancellor and Rector of the UFS (far right).
Photo: Hannes Pieterse
22 July 2013

“I am one step closer to entering the corporate world as a young woman. My dream is to work for a large firm and now it is possible,” said Melody Motaung, a B Accounting first-year student. She is one of the first recipients of the Old Mutual Investment Group’s Imfundo Trust scholarship, which was launched at the university recently.

Melody is one of seven Kovsies and 91 students countrywide to benefit from the R20 million trust, aimed at empowering black professional people in the financial sector. Kovsies is now one of eight universities whose students benefit from the trust. It already empowers students from the University of Johannesburg, UNISA, Nelson Mandela Metropolitan University, University of the Western Cape, University of Fort Hare, Stellenbosch University and Rhodes University.

”The UFS embodies the excellence and innovation we are looking for in tertiary institutions,“ Mr Muhammad Brey, trustee of the trust, said during the launch. He conveyed that the main aim of the trust is to address the shortage of black professional investors in South Africa and to expand the source of suitably qualified individuals in the asset management industry.

The seven recipients, all of them female first-year students, were encouraged by the speakers to do their part in addressing South Africa’s skills shortage in the financial sector.

Prof Hendri Kroukamp, Dean of the Faculty of Economic and Management Sciences, said with the assistance of the Old Mutual Investment Group, the students – four of them B Accounting students – will help to address the shortage of chartered accountants in the country. “As qualified financial experts, they can make a big contribution.”

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