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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.  

News Archive

Council concerned over health crisis
2009-06-08

The Council of the University of the Free State (UFS) has come out in support of doctors and health professionals attached to its Faculty of Health Sciences who expressed their concerns about the health crisis in the Free State.

At its meeting on Friday, 5 June 2009 the Council said it shared the concerns of health professionals that the quality of patient care and the quality of training being provided at the health faculties across the country are being compromised.

Earlier last week doctors and other health professionals of the UFS Faculty of Health Sciences issued a statement highlighting the seriousness of the crisis in health care provision in the Free State Province, warning that the system was on the verge of collapse.

According to the Council of the UFS, a petition will be addressed to the Minister of Health and the Minister of Education calling for urgent steps to be taken to correct the deteriorating situation in the province’s health care system.

In other decisions, the UFS Council also decided to confer an honorary doctorate on Judge Louis Harms, the Deputy President of the Supreme Court of Appeal in Bloemfontein.

Judge Harms is an international specialist in the field of Intellectual Property Law and has been actively involved in legislation and international agreements on intellectual property law, including the Designs Act, Trademarks Act and Patents and Copyrights Acts.

The motivation quotes one of his fellow jurists as saying that: “Harms is one of the greatest South African lawyers of the last 50 years. He is an intellectual giant who has made an impressive and profound contribution to the development of South African law: He is erudite, visionary, astute and principled.”

An honorary doctorate will also be conferred on geologist and expert on the geology of the Karoo Supergroup, Mr Johan Loock, for his distinguished efforts towards promoting the earth sciences and specifically geology, particularly in the context of the Free State.

Mr Loock has had two Karoo fossils named after him, which is a particular honour in the scientific world of palaeontology. He was employed by the UFS for 32 years and has close ties with the Free State in terms of his wide field of research interests.

The motivation further states that “the man affectionately and respectfully known as Oom Loock, or Malome, has selflessly given of his vast knowledge, expertise and insights into the physical and cultural heritage of the Free State to all who would learn from, and with, him”.

A Council Medal will be awarded to Prof. Johan Grobbelaar from the Department of Plant Sciences at the UFS. During his time at the UFS he has been a pioneer in many areas, including the first research expedition to Marion Island, the first PhD about research on Marion Island, the establishment of the Institute of Environmental Sciences as well as the establishment of the Centre for Environmental Management.

Council also decided to refer a report from the iGubu consultants regarding aspects of diversity in student residences to the Executive Committee of the Council so that the benefit of the participation of the rector-designate Prof Jonathan Jansen could be obtained and for further participation and consultation with relevant stakeholders.

In another decision the Council also extended the term of appointment of Prof. Tienie Crous as Dean: Economic and Management Sciences for an additional term of five years.

The Council furthermore appointed Prof. Hugh Patterton as the director of the strategic academic cluster dealing with advanced biomolecular research and Prof. Wijnand Swart as Director of the strategic academic cluster dealing with technologies for sustainable crop industries in semi-arid regions.

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