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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

UFS to send a second group of first-year students overseas
2011-03-23

Some of the students who were chosen in 2010

Following the resounding success of the University of the Free State’s (UFS) Student Leadership Development Programme in 2010, the UFS will send a second group of students to the USA in 2011 and also extend the programme by sending students to various universities in Europe and Asia.

This year a total of 150 first-year students will be selected compared to the 71 students that were selected last year. Last year’s group of students spent two weeks, between September and October 2010, at various universities across the United States.
                                         
The programme intends to expose the students to diverse cultures and enable them to learn leadership skills. The goal of the programme is to build a new class of UFS students who become leaders during their years of study and commit to building a non-racial community during and beyond their years at university.
 
Mr Rudi Buys, the UFS Dean of Student Affairs, says: “With the programme we want to develop participants’ thinking and capacity to lead in the contexts of diversity and change and we hope to direct them to programmes leading to change in student life in general upon their return.”
 
The three core purposes of allowing students an opportunity to study abroad are:
  • to introduce South African students to positive models of racial integration and integrated residential life;
  • to share and exchange ideas around issues of race, racism, racial integration and racial reconciliation, with undergraduate students abroad; and
  • to build long-term networking and collaboration between academics and researchers interested in scholarly work on themes of race, reconciliation and social justice.
 
Last year students were selected based on their ability to reflect critically on knowledge of societal issues and successful candidates were put through a preparatory development programme. They were divided into groups and given assignments to complete during the programme. A similar selection process will be undertaken this year.
 
Upon their return, last year’s group of students demonstrated extremely positive outcomes, during an assessment of the project’s goals and achievements. More than 80% of participants agreed that the course met all expectations; the content was meaningful and challenged their existing views. More than 90% felt that the course meaningfully addressed diversity. Among the successes achieved by the programme is the influence of participants in the student community.
 
Many serve as peer mentors for the Gateway First-Year Welcoming and Orientation Programme, while others serve as mentors in well-being and academic peer advisory programmes. Many have also been elected as members of executive committees of student associations and management committees in residences, while some have availed themselves to run for student governance structures throughout 2011 and 2012.
 
The programme proved to be so successful that it was decided to expand the number of students selected for the programme to 150 this year and first-year students are invited to apply. It is envisaged that 90 students will visit American universities, while 60 will visit institutions in Europe and Asia.
 
Last year the students were hosted by, amongst others, Cornell University, the University of New York, Cleveland State University and the University of Massachusetts.
Yale University, Amherst College and other American universities will join these host universities in 2011, in addition to the European and Asian institutions.
 
Those first-year students who wish to apply can find all the information at www.ufs.ac.za 
 

Media Release
23 March 2011
Issued by: Lacea Loader
Director: Strategic Communication
Tel: 051 401 2584
Cell: 083 645 2454
E-mail: news@ufs.ac.za
 

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