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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

Full week of graduation ceremonies at UFS in April

2015-04-10

Autumn always sees the UFS’s first graduation ceremony of the year on the Bloemfontein Campus.

From 14 – 17 April 2015, graduates will once again be rewarded for their hard work while top speakers will address them in the Callie Human Centre. There will be a ceremony at 09:00 and at 14:30 each day on all four days of the graduation.

The programme for the 2015 April Graduation is as follows:

Tuesday 14 April 2015:

Professor Himla Soodyall will be the speaker at both ceremonies on this day. Prof Soodyall is a Medical Scientist for the South African Institute for Medical Research. She is also a Principal Medical Scientist for the National Health Laboratory Service, and a Director for the Human Genome Diversity and Disease Research Unit at the University of Witwatersrand.

During the first ceremony of the day at 09:00, all diplomas/certificates and B degrees in the Faculty of Natural and Agricultural Sciences will be awarded. Only Honours degrees in the Faculty of Natural and Agricultural Sciences will be awarded at the 14:30 ceremony.

Wednesday 15 April 2015:

Wednesday will see Ndumiso Hadebe take the stage to address graduates at both ceremonies.

At the age of 23, Hadebe is the Founder and Managing Director of Master Frontiers Consulting, a firm that capacitates leaders and managers to achieve business goals through their people. He worked previously as a Researcher at Shanduka Black Umbrellas, a flagship enterprise and supplier development programme of the Shanduka Foundation.

He has been received numerous awards for excellence in leadership, such as the Sedibeng District Municipal Mayor’s Award for Service and Leadership. He is a Brand South Africa Ambassador and Read Educational Trust Ambassador.

All diplomas/certificates, B and Honours degrees in the Faculty of Economic and Management Sciences, except B Com degrees, will be awarded during the morning ceremony at 09:00. Later, at the 14:30 ceremony, only B Com degrees in the Faculty of Economic and Management Sciences will be awarded.

Thursday 16 April 2015:

Multiple award winning South African TV presenter, Leanne Manas, will be the speaker at both Thursday ceremonies.

Manas has graced our screens for over a decade. Not many broadcasters can boast having had live TV experience, 5 days a week for 12 years. She is currently the anchor of SABC 2’s flagship breakfast programme, Morning Live. Leanne is a qualified Speech and Drama teacher. having studied at London Trinity College. She also has an Honours degree in English.
Diplomas/certificates up to and including Honours degrees in the Faculty of the Humanities, Social Sciences, and Communication Sciences will be awarded during the ceremony at 09:00. The 14:30 ceremony will have diplomas/certificates up to and including Honours degrees in the Faculty of the Humanities’ other qualifications except for Social Sciences and Communication Sciences.

Friday 17 April 2015:

Dr Maria Phalime will be the speaker at both ceremonies on Friday.

Phalime is a medical doctor and award-winning author. She practiced for a brief period as a general practitioner in South Africa and the United Kingdom, before leaving medical practice to pursue non-clinical interests. She has worked in trade and investment promotion, and has undertaken research and consulting in the areas of economic development and business facilitation.

Diplomas/certificates up to and including Honours degrees in the Faculty of Education (CE, NPDE and ACE excluded) will be awarded during the ceremony at 09:00. Diplomas/certificates up to and including Honours degrees in the Faculties of Health Sciences, Law, and Theology will be awarded at the 14:30 ceremony.

Click here for the simple layout of the 2015 April Graduation programme:
http://www.ufs.ac.za/adhoc-pages/2014-graduation-ceremony/graduation-ceremony

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