Latest News Archive

Please select Category, Year, and then Month to display items
Categories
UFS News Media Release Research
Years
2017 2018 2019 2020 2021 2022 2023 2024
Months
January February March April May June July August September October November December
Previous Archive
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

Cornell academic focuses on international trade in inaugural lecture at the UFS
2013-11-12

 
Prof Muna Ndulo
Photo: Stephen Collett
12 November 2013

Prof Muna Ndulo, Professor at the Cornell Law School, delivered his inaugural lecture as Extraordinary Professor in the Department of Mercantile Law at the University of the Free State (UFS). The topic of his lecture was: Facilitating regional and world trade through international trade.

With this topic, Prof Ndulo said that trade is a recognised contributor to the Growth Domestic Product of countries and its role can be used to reduce global poverty and inequality. “Although Africa’s GDP is 5-6% on average, with a positive increase in direct foreign investments, its meaningful participation in world trade has been decimal,” he said.

Trade between African countries is 12%, which is the lowest in the world. This is in comparison to intercontinental trade in European states (72%), North America (48%), Asia (52%) and 26% in Latin America. The EU and USA are Africa’s key export markets. High transport costs, import substitution, intra-regional transactions, conflict of rules and bills of exchange remain as challenges. There are also no common standards with regards to the development of manpower as an important factor in production.

Prof Ndulo suggested solutions which Africa can use to achieve harmonisation. This includes the introduction of normative rules designed in a framework of a treaty. A modern law approach could be used to develop legislation and ensure uniformity; and lastly, the formulation of commercial customs and practice. “Harmonisation demands a high level of expertise and quality research,” said Prof Ndulo.

He added: “When legislation is developed, it must resemble the needs of our trade laws in order to maximise benefits.”

He concluded that, for harmonisation to be achieved, the political environment must play a major role in regional and world trade.

Prof Elizabeth Snyman-Van Deventer, Head of the Department of Mercantile Law, made sincere closing remarks on how much we as a continent have become an enemy of our own self by not having trade relationships among ourselves as Africans. Prof Snyman urged those in the legal fraternity to be part of the harmonisation of trade laws and eliminate the barriers by improving legislation.

We use cookies to make interactions with our websites and services easy and meaningful. To better understand how they are used, read more about the UFS cookie policy. By continuing to use this site you are giving us your consent to do this.

Accept