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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 changes format of graduation ceremony

2011-04-17

The highest number of qualifications in the history of the University of the Free State (UFS) will be awarded at the autumn diploma and graduation ceremony from 9-11 May 2011, which will be held in the Callie Human Centre on our Main Campus in Bloemfontein.

From this year, the format of the ceremony will change to make it more visible to students and the public. For the first time, all the doctoral and master’s degrees from each respective faculty will be conferred during one ceremony on 11 May 2011, instead of each faculty handling these qualifications individually. Another change in the format is that the procession will gather on the Red Square in front of the Main Building and move to the Callie Human Centre from there. Both academic staff and graduands will partake in the procession.

A total of 3 674 qualifications will be conferred during this year’s graduation ceremony, including 629 diplomas, 2 613 Bachelors and honours degrees, 372 master’s degrees and 58 doctorates.

An honorary doctorate in Drama and Theatre Arts will also be awarded to theatre stalwart Mr Pieter Fourie. He is one of the most acclaimed Afrikaans playwrights in South Africa and probably the only person to have left his mark as an actor, director, artistic director and writer.

Mr Fourie was awarded the Gerhard Beukes prize for drama , was honoured for his contribution to the arts by the South African Academy for Science and Arts and was appointed as trustee of the Arts and Culture Trust of the State President in 1997. He has also served as a committee member of the South African Academy for Science and Arts.

Mr. Fourie has also been the proud recipient of the Hertzog prize for drama, two FNB-Vita awards and a Fleur Du Cap award.

The full programme for the respective ceremonies is as follows:

Monday, 9 May 2011:

At 08:30, certificates and diplomas, excluding PGED and PGES, will be awarded to graduates from the Faculty of Education and at 12:00 PGED, PGED and B and honours degrees will be awarded to students from the same faculty. At 15:30 on the same day, certificates and B and honours degrees will be awarded to students in the Faculty of the Humanities.

At 19:00, the Faculties of Education, the Humanities and Economic and Management Sciences will have their prize-giving ceremonies for outstanding achievers.

Tuesday, 10 May 2011:

At 08:30, students in the Faculty of Economic and Management Sciences will graduate and at and 12:00 the Faculty of Natural and Agricultural Science will join them. This includes students in BML, B.Admin., B.Pub. and related honours degrees. At 15:30, 503 students from the Faculty of Natural and Agricultural Sciences will receive their certificates, diplomas and B and honours degrees.

At 19:00, the Faculties of Health Sciences, Natural and Agriculture Sciences, Law and Theology will have their prize-giving ceremonies.

Wednesday, 11 May 2011:

The Faculty of Health Sciences, the Faculty of Law and the Faculty of Theology will be awarding their certificates, diplomas and B and honours degrees at 08:30. At 12:00, all faculties will award a total of 372 master’s degrees and at 15:30 a total of 58 doctorates will be conferred.

The Chancellor’s Dinner will take place in the Centenary Complex on the Main Campus of the UFS at 19:00.

The graduation ceremony of our Qwaqwa Campus will take place in the Rolihlahla Mandela Hall on the Qwaqwa Campus on 7 May 2011 at 10:00. All the faculties at this campus will confer their degrees, certificates and diplomas at this ceremony.

Media Release
21 April 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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