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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

Thakaneng bridge: Valentines Promotions

2009-02-13

Thakaneng bridge: Valentines Promotions

Thakaneng bridge: Valentines Promotions - 13 February. Special discount! Prizes to be won!

TRÄUMEREI

Enige twee ontbyte kry `n glasie sap en koffie gratis.
Enige middagete kry `n trammazini of glas huiswyn gratis.

Any two breakfasts get a free juice and coffee.
A free glass of wine or a trammazini with any lunch.

VARSITY INFORMATION & TECHNOLOGY

Spend R1000.00 or more and stand a chance to win an Ipod Shuffle.
More specials in store.

Spandeer R1000.00 of meer en staan `n kans om `n Ipod Shuffle te wen.
Daar sal ook ander spesiale aanbiedinge in die winkel wees.

VETKOEK FACTORY

Heart shaped vetkoek with delicious fillings and get a free heart shaped chocolate with every vetkoek.

Kom geniet `n hartvormige vetkoek met `n smaaklike vulsel en kry `n gratis hartvormige sjokolade.

VARSITY HAIR STUDIO

Make Friday the 13th your lucky day at VARSITY HAIR STUDIO.
Amazing discounts will be given away!

Maak Vrydag die 13de jou gelukkige dag by VARSITY HAIR STUDIO.
Groot afslag op byna alles.

KOVSIE PRIVAAT AKKOMMODASIE

Alle bestaande klante kom neem deel aan `n gelukstrekking en staan `n kans om `n etebewys ter waarde van R400.00 te wen.

All existing clients can enter into a lucky draw and stand a chance to win a free meal worth R400.00.

XEROX

Kom neem deel aan `n “lucky draw” en wen een van verskeie geskenke.
Enter the lucky draw and win one of many prizes.

MELLIN

LEVI, POLO en LUXION-KUKA promosies. Gratis geskenke wannneer `n raam gekoop word.
LEVI, POLO and LUXION-KUKA promotions. A free gift with any frame bought.

8. FRIENDLY SEVEN ELEVEN
Lots of in-store give-aways.
Vele weggee geskenke in die winkel. Besoek ons gerus.

9. RUSH HOUR
Kom prik `n ballon en wen een van vele pryse, waaronder T-hemde, `n koek, teddiebeer of dalk ‘n mini- make over.
Ons maak ook `n plan vir lekker musiek op die brug!

Win a cake, T-shirt ,a teddy bear or a mini make over in our burst a balloon competition.

10.MAMA`S KITCHEN
Kom neem deel aan `n gelukstrekking en wen `n piekniekmandjie vir twee.
`n Gratis geskenkie vir die eerste 100 klante.

Enter the lucky draw and stand a chance to win a picnic hamper for two.
The first 100 clients will receive a gift.

11. ROASTERS
Kom koop een chip twister en kry een gratis.
Buy ` chip twister and get one for free.

12 DIE DELI

Koop een groot ontbyt en kry `n damesontbyt gratis.
Kry skyfies gratis saam met enige burger.

Buy a breakfast and get a ladies breakfast free.
Free chips with any burger.

NASHUA MOBILE

Buy airtime for R10.00 or more and stand a chance to win airtime worth R55.00
Koop lugtyd van R10.00 of meer en staan `n kans om lugtyd ter waarde van R55.00 te wen.

VAN SCHAIK BOEKHANDEL

Alle aankope op 13 Februarie kwalifiseer vir `n gelukstrekking op die 14de Februarie en staan `n kans om `n geskenk te wen waaronder wetenskaplike sakrekenaars, memory sticks en penstelle.

All clients who buy something on 13 February 2009 may enter a lucky draw and may win gifts like pen sets, scientific calculator or a memory stick on 14 February 2009.

ROCKSTARS

Kom koop `n T-hemp en staan `n kans om `n geskenk te wen.

Buy a T-shirt and stand a chance to win a prize

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