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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

UFS to implement a policy on HIV and Aids

2005-03-14

The Council of the University of the Free State (UFS) approved the implementation of a policy on HIV and AIDS.

“With this policy we recognise the seriousness of the HIV and AIDS epidemic and the potential impact this disease can have on both the UFS and the wider society. We are committed to addressing HIV and AIDS in a positive, supportive and non-discriminatory approach by providing resources and leadership to implement HIV and AIDS university-based, as well as community outreach programmes,” said Dr Ezekiel Moraka, Vice-Rector: Student Services at the UFS.

The objectives of the policy include:

The protection of individual rights of confidentiality and freedom from discrimination.
The promotion of a sustained educational programme that provides counseling and current accurate information to the University community and to the outside community.
The promotion of behaviors that reduce or minimise the risk of acquiring HIV infection and generally create a safe environment.
The provision of leadership in teaching, research and community service on HIV and AIDS and its impact.
The provision of leadership in promoting the human rights based approach to HIV and AIDS, and thereby also breaking down the stigma attached to the illness.

“The policy also makes provision for the establishment of a Centre for HIV and AIDS within Kovsie Health. This centre will render HIV and AIDS related support services and initiatives to the whole campus,” said Dr Moraka.

According to Dr Petro Basson, head of the Centre for HIV and AIDS at the UFS, there is less than 1% incidence of HIV positive cases amongst undergraduate students on the main and Vista campuses. All these students take part in a voluntary confidential counseling and testing programme (VCCT). In the case of postgraduate students, there is about 1% incidence on both campuses.

“The Centre for HIV and AIDS has led in the development of information campaigns and workshops for students and staff to make them aware of the risks of HIV and AIDS and the necessary measures to ensure their safety. We have found that, because students have access to the right information, they are more cautious when it comes to HIV and AIDS. Awareness campaigns are also conducted throughout the year – especially during rag and intervarsity,” said Dr Basson.

“Some departments have also taken the lead in introducing aspects of HIV and AIDS into academic programmes while important research on the HIV and AIDS topic has already been completed and receives continuous attention,” said Dr Basson.

To achieve a coordinated approach, a Life Skills Forum will be established consisting of representatives of among others the Student Representative Council (SRC), academic departments, trade unions, Kovsie Counseling and Development, etc.

“With this policy the UFS pledges its commitment to participate actively in the fight against the disease,” said Dr Moraka.

Issued by: Lacea Loader
Media Representative
Tel: (051) 401-2584
Cell: 083 645 2454
E-mail: loaderl.stg@mail.uovs.ac.za
14 March 2005

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