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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

First-year students encouraged to attend UFS welcoming function

2005-01-12

The University of the Free State (UFS) will host a welcoming function for all new first-year students and their parents on Saturday 15 January 2005 in the Callie Human Centre on the main campus in Bloemfontein.

The function starts at 11.00 and will be addressed by the Rector and Vice-Chancellor of the UFS, Prof Frederick Fourie. UFS staff will also be available to provide vital information to first-year students on academic matters.

According to UFS Registrar, Mr Vernon Collett, Saturday’s welcoming function can assist students and parents by providing vital information on the many high quality academic learning programmes on offer at the UFS in six faculties.

“If students and parents have this information it will make the registration process which starts next week Monday 17 January much smoother,” Mr Collett said.

The UFS has split the registration process into various categories of students and Mr Collett appealed to all students to adhere to the dates and times which apply to them as a one-stop service will be available so as to avoid unnecessary delays in the registration process.

The registration of first-time entering first-year students who applied before 30 November 2004 to study at the Bloemfontein campus will take place from Monday 17 January 2005 to 21 January 2005 at the Callie Human Centre.

Senior undergraduate students (that is, students entering their second or later year of study) may register from 22 to 29 January 2005.

Postgraduate students, first time entering first year students and other students who applied for admission to the main campus after 30 November 2004 must register at the Callie Human from 31 January 2005 to 4 February 2005.

Due to the limitations placed by government on student numbers, the applications of students who applied late will be regarded as pending and will be processed as places became available.

Vista campus

The Vista campus in Bloemfontein – which was incorporated into the UFS in January 2004 – no longer accepts applications from first-year students. Such prospective students had to apply to the UFS main campus.

Students who had been registered as Vista students last year must register at the Vista campus on the same dates as applicable on the main campus.

Qwaqwa Campus

At the Qwaqwa campus of the UFS, all first-time entering first-year students must report on 17 January 2005, after which the registration of these students will take place according to a specific programme.

The official welcoming functioning for new first-years at the Qwaqwa campus of the UFS will take place on Saturday 22 January 2005 at 11am in the Rolihlahla Mandela Hall on the Qwaqwa campus. As on the main campus, this function will also be addressed by the Rector and Vice-Chancellor, Prof Fourie.

Mr Collett appealed to first-year students who have applied to study at the Qwaqwa campus and their parents to attend this function which fulfills the same role as the one held on the Bloemfontein campus.

Detailed information on the dates and times of registration for the various faculties and academic learning programmes is available on the UFS website: http://www.uovs.ac.za/content.php?cid=9

Prospective students may also call 051-401-3000 for more information.

Media release
Issued by: Anton Fisher
Media Representative
Cell: 072-207-8334

12 January 2005

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