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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.  

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UFS hosts Fulbright senior specialist
2010-06-14

Pictured from the left, are: Prof. Aldo Stroebel (Director: International Affairs), Prof. Daryl Smith, Ms Dineo Gaofhiwe (Manager: International Research Funding Opportunities, UFS) and Mr John Samuel (Interim Director: the Institute for Studies in Race, Reconciliation and Social Justice, UFS).

The University of the Free State (UFS) has, for the past month, hosted Prof. Daryl Smith, Professor of Education and Psychology at Claremont Graduate University in the United States of America (USA), as a senior Fulbright specialist. She was hosted by the Institute for Studies in Race, Reconciliation and Social Justice, under the leadership of Mr John Samuel, who is its Interim Director. She helped in developing and establishing the research agenda of the institute.

A series of policy briefs and research papers will emanate from Prof. Smith’s tenure at the UFS, complemented by work of three additional Fulbright senior specialists who are joining the UFS early in the second semester. Prof. Smith met with various role-players and stakeholders in the domain of social justice, institutional change, transformation and diversity management, and will continue her association with the UFS at both the Institute and the Faculty of Education, in collaboration with its Dean, Prof. Dennis Francis.

Prof. Smith’s current research, teaching, and publications have been in the areas of diversity in higher education, leadership change, organisational implications of diversity, governance, and assessment and evaluation. She earned her Ph.D. in Social Psychology and Higher Education at Claremont Graduate University, her M.A. from Stanford University, and her B.A. in Mathematics from Cornell University.

Amongst many specialist missions, Prof. Smith served as part of two US delegations to the Ford Foundation-sponsored tri-national conferences (India, South Africa, US) on campus diversity in higher education that have taken place in South Africa and the United States. Her most recent book, Diversity’s Promise for Higher Education: Making it Work, is available from Johns Hopkins University Press.

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