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Learn from accountancy mistakes of the past decade, UFS students hear at Business Acumen Day

01 August 2023 | Story Kekeletso Takang | Photo Supplied

Business Acumen 2023 — Students engaged experts on the accountancy profession at the recent Business Acumen Day hosted by the UFS School of Accountancy.

The University of the Free State (UFS) School of Accountancy held its second Business Acumen Day on Wednesday 19 July 2023 in the Callie Human Centre on its Bloemfontein Campus.

The morning saw approximately 650 students fill the centre, eager to listen to the accountancy experts who attended.

“Central to the success of an accountant are values that guide one’s professional behaviour. Values of patience, respect for oneself and others, ethical behaviour, and having the right mindset,” Conrad de Wee, Chairman of the South African Institute of Chartered Accountants (SAICA) Central Region Council and Senior Manager at auditing firm Mazars, told the attendees. De Wee also shared the story of Dion Shango and his journey towards becoming the first black executive to be appointed CEO of PwC Southern Africa, at age 39.

Patricia Stock, audit partner and CEO of auditing firm MGI RAS and former SAICA board member, said she lives by the motto “Grow as I grow” and believes that, “The place you come from does not make you; it’s the choices you make that make you.” Stock described attending the event as a “privilege” and encouraged students by sharing her own journey. “You have given us an ear. You have given us the power to speak over your lives. We are here to plant a seed, sharing nuggets of wisdom… Do away with limiting beliefs and rather embrace diversity. The workplace needs diverse professionals who bring diverse ideas.”

Professor Bernard Agulhas, former CEO of the Independent Regulatory Board for Auditors and currently Adjunct Professor of Auditing at the UFS, said that auditors are in the right place to shine a light on irregularities, and if they don’t, one questions if they are complicit. He also discussed the required behavioural competencies of accountancy professionals and auditors. “We should go back to the basics. I would like to tell you about those basics. Focus on the principles that guide auditors when you go into the profession… Accounting professionals should be professional, independent, accountable, courageous, serve the public, and maintain trust.”

Prof Agulhas urged students to uphold these principles at every step of their career journey.

Rob Rose, Financial Mail Editor and author of Steinheist, alluded to the financial scandals of the past decade. Rose, who has written about governance and the grey area that exists between what companies say and what they do, contributed to exposing, among others, the Steinhoff scandal. “With Steinhoff, the red flags were there. There were tons of red flags all along. Why did the board of directors, partners, and investors miss them?” When asked by a student if there was a link between the past decade and the former governance of South Africa, Rose responded, “Yes, there definitely is a link. During that governance, there was a culture of permissibility. Plenty of grey area. There was an ethical slippery slope that didn’t hold individuals accountable.”

Prof Frans Prinsloo, Director of the UFS School of Accountancy, noted that the Business Acumen Day had addressed important professional values, attitudes, and skills that aspiring accountancy professionals need to be effective in the workplace. He also encouraged students to learn from the mistakes of the past, not to repeat them once they enter the profession, and thanked sponsor Standard Bank for investing in future leaders and helping to ensure the event’s success.

Prof Frans Prinsloo, Director of the School of Accountancy, welcomed guests, partners, and students to the event.

Conrad de Wee, Chairman of the SAICA Central Region Council and Senior Manager at Mazars.

Rob Rose, ‘Financial Mail’ Editor and author of ‘Steinheist’.

Prof Bernard Agulhas, Adjunct Professor of Auditing at the UFS and former CEO of the Independent Regulatory Board for Auditors.

Patricia Stock, audit partner and CEO of MGI RAS and former SAICA board member.

News Archive

National Human Trafficking Resource Line a victim-centred approach to combating crime

2017-08-24

Prof Beatri Kruger, Adjunct Professor at the
UFS Faculty of Law. Photo: Supplied

As a response to the rising number of human trafficking cases in South Africa and around the world, key role players in various fields have pulled together to come up with workable solutions on how to stop the crime and assist victims. Some of the work being done by NGOs and law enforcement agencies has been supported by insights from research conducted in communities and by academic institutions. According to Prof Beatri Kruger, Adjunct Professor of Law in the Faculty of Law at the University of the Free State and experienced researcher in human trafficking, support for victims has grown in leaps and bounds with the help of the latest technology. More and better quality information can be collected to strengthen efforts of combating the crime,” she said.

One such technological development is the national Human Trafficking Resource Line, which provides various services, including information on trafficking activities, assistance to agencies working with victims of trafficking in persons (TIP), creating a network from which data can be collected, analysed, and activities tracked, in order to ensure the best service to victims.

The resource line connects callers, often victims of TIP or anonymous tippers, to service providers in social services, law enforcement, places of safety, medical facilities, and government agencies, especially during emergencies.

Resource line a helping hand to victims
The resource line was established in 2016 and has replaced the previous helpline. This line provides more services and resources than just a helpline. Through partnerships, it works to strengthen local and national structures that can assist victims over the phone.

Call specialists are trained by Polaris, an American company using international standards and protocols. The call specialists are available 24/7 to take reports of human trafficking confidentially and anonymously. They put victims in touch with service providers for health screening, counselling, and repatriation if they are from another country, and also assist with case management.

Empowering service providers is the key to success
Support for service providers such as NGOs, safe houses, and government departments in the network is in the form of skills training programmes for staff, and a referral system in various provinces around the country. There are good referral partners in each province, as well as provincial coordinators ensuring accountability regarding cases, mobilising services for victims, and coordinating the referrals and response.

To strengthen the network further, services provided in each province are being standardised to ensure that the right people are contacted when handling cases, and that key stakeholders in each province are used. The strength of the provincial provider network is key to offering victims of human trafficking the services they need.

Human trafficking is a crime that permeates multiple academic disciplines and professions. Therefore, information collected from victims through such a helpline and collated by agencies, will assist academic institutions such as the UFS in furthering their research, while strengthening the content of academic programmes in fields such as law, law enforcement, social sciences, health sciences, and international relations.

The number to call for reporting or providing tips on TIP-related crimes and activities, is 0800 222 777.

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