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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

Lots of inspiration at Autumn Graduation Ceremony

2013-04-18

Graduates celebrate the results of years of study at the graduation ceremony on the Bloemfontein Campus.
Photo: Hannes Pieterse
17 April 2013

Live streaming of ceremonies available from 16 April - 19 April 2013: http://www.ufs.ac.za/ufslivestreaming/

Joshua Johnson YouTube video

The university’s Autumn Graduation Ceremony got off to a vibrant start with energetic performances and inspiring messages for graduates.

Joshua Johnson, an American student who uses his talent for tap-dancing to fund his tertiary education, mesmerised the audience on the first of the four-day graduation ceremony with his story of hope and perseverance. The student from Penn State University travels five hours by bus to New York every weekend where he tap-dances on the subway trains to earn money for his tuition fees.

Delivering a keynote address, Joshua told graduates that, in order to achieve their goals, they have to understand and work diligently with the 24 hours they get to live daily. “Start with a bang and end with a bang,” he said, encouraging the audience in the nearly-packed Callie Human Centre to join him in a rhythmic tap-dancing beat.

“Don’t follow in the footsteps of someone else. Take the beat of life, but add your rhythm to it," his wise words resonating with the exhilarated graduates.

Joshua will be the guest speaker at the ceremonies on 16, 17 and 19 April 2013 and will deliver a dance item during each occasion.

Dr Khotso Mokhele, Chancellor of the University, echoed Joshua‘s message, telling graduates not to be discouraged by life’s difficulties.

“Take what you have learned over the last three or four years and use that knowledge to reach your goal,” he advised.

Prof Jonathan Jansen, Rector and Vice-Chancellor, encouraged them to continue to study. “To break the cycle of poverty, get an education, get a degree.” He told them that as graduates they are ten times more likely to get a job, with the odds rising as they continue their postgraduate studies.

Well-known radio host and Idols South Africa judge, Gareth Cliff, will be the guest speaker at two ceremonies on 18 April 2013. He will be joined by Vicus Visser, the South African YouTube singing sensation. Dubbed Bloemfontein’s Justin Bieber, Vicus and his brother Vincent will perform during these two ceremonies.

The programme for the respective ceremonies is:

Wednesday 17 April

09:30 Diplomas and certificates up to and including honours degrees in the Faculty of Education.
14:30 Diplomas and certificates up to and including honours degrees in the Faculties of Health Sciences, Law and Theology.

Thursday 18 April

09:30 Diplomas and certificates up to and including honours degrees in the Faculty of Natural and Agricultural Sciences: only Agricultural Sciences and Architecture.
14:30 Diplomas and certificates up to and including honours degrees in the Faculty of Natural and Agricultural Sciences: only Natural Sciences.

Friday 19 April

09:30 Diplomas and certificates up to and including honours degrees in the Faculty of Economic and Management Sciences: all diplomas and degrees in the Faculty, except BCom and BComHons.
14:30 Diplomas and certificates up to and including honours degrees in the Faculty of Economic and Management Sciences: only BCom and BComHons.

The Qwaqwa Campus’ graduation ceremony will take place on 8 June 2013. Diplomas/certificates up to and including doctorates will be awarded at this ceremony.

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