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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

DiMTEC and insurance industry join forces to address the vulnerability of communal and commercial farmers

2015-09-18

At the workshop on index-based insurance for the
agricultural sector were, from the left:
Dr Andries Jordaan, Johan van den Bergh,
Bertus Kruger and Henk Vermeulen.

The United Nations identified climate resilience as a major focus for future development to ensure a safer world for all. Tailor-made insurance and financial products ought to address the needs of the most vulnerable.

Recent research done by the Disaster Management Training and Education Centre for Africa (DiMTEC) at the University of the Free State on the vulnerability of communal and commercial farmers to external shocks highlighted the importance of insurance as an important disaster risk transfer tool. Insurance is generally unavailable to most vulnerable groups, such as communal farmers, small-holding farmers, and new commercial farmers.

For these reasons, DiMTEC invited the insurance industry and other experts to a workshop with the purpose of investigating the development of risk transfer products, especially for drought. They were the hosts of a workshop entitled “Global Resilience through Insurance and Index-Based Risk Transfer Products (IBRTP)”.

Bertus Kruger from Agriseker and Johan van der Berg from SANTAM, together with other experts, attended the workshop facilitated by Dr Andries Jordaan, Head of DiMTEC.

The group attending the workshop, agreed on the following:

- Establishing a UFS-DiMTEC-led research team to investigate the feasibility of index insurance products.
- Mobilising government support to develop risk transfer products for the most vulnerable.
- Initiating forum discussions on risk transfer products.
- Promoting collaboration between the private sector, government, and research institutions with the focus on resilience-building through financial and insurance products.

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