Latest News Archive

Please select Category, Year, and then Month to display items

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

SRC elections of our Bloemfontein Campus

2011-07-26

The Student Council elections of our university at the Bloemfontein Campus will take place on 29 and 30 August 2011. These official election dates were announced by Mr Rudi Buys, Dean: Student Affairs, on 25 July 2011.

Nominations open on Wednesday, 27 July 2011 and the elections, which are constituted according to the SRC Constitution, shall be handled by the Independent Electoral Agency, which shall be instituted by the SRC Constitution with this in view.

“The elections introduce a new era in student leadership and governance, because student representation will now constituted in such a way that affords the majority of students the opportunity to vote directly for their representatives. Senior leadership structures are extended in the new Constitution, in order to allow more students to hold senior positions,” states Mr Buys.

The SRC elections follow on the approval of a new Constitution that was accepted by our Council on 3 June 2011.

The Constitution was drafted over a period of eight months by the Broad Student Transformation Forum (BSTF), consisting of students, in order to design a new dispensation in student structures. The BSTF, which decided on new models of student representation in collaboration with independent facilitators, consists of more than 70 student organisations and residences. The changes to the Constitution were decided on and accepted by the BSTF, after recommendations from four student study groups, which investigated student leadership and governance in depth, at national as well as international level, were taken into account. The study groups visited nine (9) other SA universities, as well as investigated student representation at internationally renowned universities like Cornell, Yale and Stanford in the United States of America.

Ms Modieyi Motholo, Chairperson of the Interim Student Committee, says that she is very proud of what the students have achieved with the new Constitution. “I wish to accord recognition to all the students who lead the process for all their hard work. Constitutional revision is a strenuous process and it is nothing short of a miracle that the students could not only reconstruct the Constitution, but also have it accepted in less than a year.”

The important changes include, amongst others:

Candidates no longer stand on behalf of parties in the elections, but as independent candidates for 10 predetermined portfolios for which students can vote directly;
Students also directly vote for a President and a Vice-President;
Nine (9) SRC members serve ex-officio as SRC members by virtue of being chairpersons of nine additional student councils established by the Constitution. Amongst others, the councils include a postgraduate student council, an international student council, a student media council and a student academic affairs council;
More stringent eligibility requirements are set for candidates, namely that students who wish to run in the elections has to, amongst others, sustain an academic average of more than 60%, and hold proven student leadership experience (which could be verified by the Independent Electoral Agency).

“With the SRC elections, students have the opportunity to firmly entrench the changes in student governance on which they have decided on by themselves firmly, as a sustainable model for democracy at our Bloemfontein Campus. It speaks volumes that the number of leadership positions for which candidates can make themselves available, in essence has been increased by the number of additional student sub-councils from 21 to 67, because it brings about much more direct representation for different students across the campus,” says Mr Buys.

“I firmly believe that the upcoming student council elections will be a success,” says Motholo. “I wish the students, who are prepared to sacrifice a year of their lives in service of the student community as a member of the SRC, all of the best.”

The Qwaqwa Campus’ election schedule shall be announced within the next week, as well as the date of the institution of the Central Student Council (CSC).

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

Back

Economic and Management Sciences

Education

Health Sciences

The Humanities

Law

Natural and Agricultural Sciences

Theology and Religion

Open Distance Learning

Business School

We use cookies to make interactions with our websites and services easy and meaningful. To better understand how they are used, read more about the UFS cookie policy. By continuing to use this site you are giving us your consent to do this.

Accept