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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’ position on student politics
2011-09-01

The University of the Free State (UFS) welcomes politics on its campus. It especially invites students to participate in all the political activities on campus, ranging from seminars and debates on national and provincial politics, and organization within party political structures. Earlier the year, in the run-up to the Local Government Elections, a programme was run on campus with all political parties participating in public and radio debates with students on political issues.

A university must be a place for all kinds of ideas and organizations---social, cultural, religious, academic and, yes, political. The perception that the UFS has “banned” politics is simply not true, nor is it possible within a constitutional democracy.
 
The University of the Free State once again invites SASCO and any other political groupings that have not yet registered to participate in campus life, to do so as soon as possible. It is important to the UFS that all student bodies enjoy full participation in campus life, and that there exists a vibrant and exciting political life on the campus alongside academic, social, cultural and religious life.
 
The Student Representative Council (SRC) Elections at the UFS has been constituted on independent candidacy and non-party-political basis. This is a decision crafted and recommended by the Broad Student Transformation Forum, whose members are elected by students, and approved for implementation by the highest authority of the university, the Council. The decisions of the Student Forum entails that all students can nominate individuals for a variety of student leadership positions, which includes nomination for elective portfolios in the SRC elections, but also within nine sub-councils that hold ex-officio seats on the SRC.
 
The old system which restricted student leadership to representation on a party-political basis only (DA, ANC, Freedom Front Plus etc) no longer exists.
 
This decision of the Student Forum ensures that the rights of all students to directly elect their representatives are protected, and that the SRC in fact represents the student body as a whole and not particular interest groups alone. This decision enables ALL students to stand for and participate in campus politics in the SRC elections, though not on a party political ticket. In the 2011 SRC Elections, for example, SASCO members were indeed mandated by its local branch to stand as candidates for various elected positions, as did other political parties such as the DA Student Organisation, a development which the university welcomes. 
 
Most importantly, the UFS insists that all students participate in university life with respect for the rights of all students, irrespective of their social beliefs or political commitments. The UFS insists that no student or student grouping acts to disrupt campus life or insult university staff or denigrate fellow students on grounds of race, religion, language, gender, etc. This is very important to the UFS as it works to build a non-racial culture that respects our common humanity. Our students must learn that democracy and decency go hand in hand, and that part of learning at a university, is to learn to differ without resorting to a language of derision.
 
In short, the University of the Free State warmly welcomes full participation in politics, as in other spheres of student life, on all three its campuses.
 
Statement by Prof. Jonathan Jansen, UFS Vice-Chancellor and Rector.

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