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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

Fundraising campaign launched to help feed hungry students

2012-03-28

From the left is Dr. Carin Buys (Patron of NSH), Ms. Nicky Abdinor (guest speaker), Mrs. Grace Jansen (patron of NSH) and Redi Tlhabi (master of ceremonies).
Photo: Johan Roux
28 March 2012

Video clip (YouTube)

The University of the Free State (UFS) received over R200 000 for its No Student Hungry (NSH) Programme at the NSH launch dinner on Friday 23 March 2012 in Bloemfontein.

Prof. Jonathan Jansen, Vice-Chancellor and Rector of the UFS as well as founder of the NSH Programme donated R100 000 from the proceeds of his book We Need to Talk to this programme. Standard Bank also donated R30 000.

An additional amount of about R90 000 was raised by means of pledges made by guests and the auctioning of several items. These items were donated by local companies and university staff.

The No Student Hungry Programme (NSH) aims to raise funds to provide modest food bursaries for needy students and give them daily access to a balanced meal.
Prof. Jansen started the NSH programme in 2011 with the proceeds of his book, We Need to Talk.

The NSH funds more than 100 students in the hope of helping them to excel in their academic endeavours and, ultimately, to obtain their degrees.

In 2011, Prof. Jansen discovered that a significant number of students were studying without eating on a regular basis. These were often students with strong academic records but without adequate funding to sustain themselves with regular meals.

The project was established in January 2011 when the NSH Team started to develop the structure and processes of the programme. The first 100 students who were awarded the food bursaries started using their student cards for daily meals on campus on 1 April 2011.

“The No Student Hungry Campaign is not only about creating a university campus that cares. It is about creating a country where being human matters. Our students on the NSH project are amazing young people. They struggle to get by, but they have great potential and achieve good marks," Prof. Jansen said on Friday.

Prof. Jansen’s wife, Grace, and Dr Carin Buys, wife of Mr Rudi Buys, Dean of Student Affairs, volunteered to drive the programme and raise funds to address the problem. They are supported by various divisions within the university.

Students apply for the bursaries and are selected on the basis of their financial needs, good academic results, active participation in student life programmes and commitment to give something back to the community.

The raising of funds is a continuous process involving awareness campaigns, seeking of partnerships with companies and institutions and support from the general public, staff and individuals.

An agreement has been made with several food outlets/restaurants on campus who offer healthy, balanced meals to NSH students when they swipe their student cards that are funded by the programme.

At the end of the year the process is reviewed and students who still qualify are reinstated on the programme, whilst those whose circumstances have changed or are no longer in need of the bursaries, make way for new applications.

The NSH Team meets with students on a regular basis with the purpose of offering training, motivation and opportunities for personal growth and career development. Students are also expected to become involved in projects as a way of ploughing back into the community.

The goal is to expand the project annually as support for it grows.
Ms Nicky Abdinor, a clinical psychologist from Cape Town, who was born without arms and with shortened legs, provided an entertaining motivational speech at the launch. Ms Abdinor, founder of the Nicky's Drive organisation, also visited the UFS’ Unit for Students with disabilities where she delivered a talk on independence for people living with disabilities.

To become involved with the NSH Programme, please contact Mrs René Pelser on +27(0)51 4019087 or e-mail pelserr@ufs.ac.za.

Media Release
28 March 2012
Issued by: Lacea Loader
Director: Strategic Communication
Tel: +27(0)51 401 2584
Cell: +27(0)83 645 2454
E-mail: news@ufs.ac.za

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