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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

Almost 2000 degrees and diplomas conferred at Winter Graduation

2015-06-26

Live streaming will be available on: http://livestream.ufs.ac.za/

The 2015 Winter Graduations are almost underway. The highlight on the university calendar for every graduate will take place on the Bloemfontein Campus on 1-2 July 2015. On 1 July 2015, diplomas will be awarded by the Centre of Financial Planning Law (331 in total) and the School of Open Learning (376 in total). On 2 July 2015, a total of 1 220 master’s and doctoral degrees will be awarded to graduates from all seven faculties.

A highlight at this year’s Winter Graduation is the awarding of three honorary degrees by the university. Ambassador Lakhdar Brahimi, Dr Mercy Oduyoye and Mr John Samuel will receive honorary degrees.

On 17 August 2012, Ambassador Brahimi was appointed by the United Nations as the new peace envoy to Syria, replacing Kofi Annan. He is also a member of the Commission on Legal Empowerment of the Poor, the first global initiative to focus specifically on the link between exclusion, poverty and the law. Prof Heidi Hudson, Head of the Centre for Africa Studies at the UFS, will receive the honorary degree on his behalf.

Dr Oduyoye is widely regarded as one of the most influential women theologians Africa has produced in recent history. Currently, she directs the Institute of African Women in Religion and Culture at the Trinity Theology Seminary in Legon, Ghana.

Mr John Samuel, who will receive an honorary award, is also scheduled to be a guest speaker at the two ceremonies on 1 July 2015.

Wednesday 1 July 2015:

John Samuel will be the speaker at both ceremonies. He is one of South Africa’s leading education experts with international and national experience, covering a period of more than forty years. He was involved in the founding of the South African Campaign: Public Participation in Education Network (PPEN), established the Centre for Education Policy Development, the Joint Working Group (for The National Party Government and the ANC), the National Education Conference, and the National Education and Training Forum. He also made leadership contributions to the First Education and Training White Paper, the Transformation Strategy for the National Education Department, and the first Green Paper on Higher Education.

John is also Senior Programme Director of the WK Kellogg Foundation in the USA. He has also been the Chief Executive of the Nelson Mandela Foundation, and the CEO of the Oprah Winfrey Leadership Academy for Girls.

Thursday 2 July 2015:

Nataniël will be the speaker at both ceremonies. Nataniël is a singer, songwriter, and South African entertainer, who has crossed from the alternative circuit to the stage. For the past 10 years, he has become well-known for his outspoken Kaalkop column in SARIE magazine. His solo career was launched in 1987 and, since then, he has released 16 albums, staged more than 70 original theatre productions, and published 15 books. Over the past two decades, Nataniël has gained the title of South Africa’s leading exponent of the solo stage act. He manages Kaalkop Studio, his lifestyle retail company, and records on his own independent label, Nataniël House Of Music. He is an ambassador for Child Welfare SA, and also heads his own charitable foundation, The Nataniël Progress Project.

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