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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

Campus-wide poll to determine preferences among current staff and students for language models

2015-10-20

Language poll postponed until Thursday 22 October 2015

Due to the closing down of all UFS campuses on Wednesday 21 October 2015, the language poll has been postponed until Thursday 22 October 2015.

Invitation to take part in a campus-wide poll to determine preferences among current staff and students for language models.

As mandated by the Council on 5 June 2015, the senior leadership of the University of the Free State (UFS) has committed itself to a formal review process of the current language policy through a comprehensive process of consultation with all university stakeholders.

Since 19 August 2015, the following public sessions have taken place across all three campuses:

Public dialogue for staff and students, Qwaqwa Campus, 19 August 2015
Staff submissions, Bloemfontein Campus, 20 August 2015
External stakeholder submissions, Bloemfontein Campus, 24 August 2015
Public dialogue for staff and students, South Campus, 26 August 2015
Alumni submissions, Bloemfontein Campus, 27 August 2015
Expert panel discussion for staff and students with Q&A, Bloemfontein Campus, 31 August 2015
Staff, students, and external stakeholder submissions, Qwaqwa Campus, 9 September 2015
Panel discussion and public dialogue for students, Bloemfontein Campus, 10 September 2015
Expert panel discussion for staff and students with Q&A, Bloemfontein Campus, 11 September 2015
Student submissions, Bloemfontein Campus, 15 September 2015
Staff and student submissions, South Campus, 16 September 2015
Convocation submissions, Bloemfontein Campus, 30 September 2015

Further, written and online submissions from the entire university community were put forward until 18 September 2015, while the Convocation had until 30 September 2015 to submit. During the process, the Language Committee has met weekly and discussed the viability, benefits and challenges of various language model options, taking into account institutional, regional, national and global concerns, documents and information.

Following the university’s commitment to open, democratic practice, the UFS calls upon all its current staff and students to participate in a campus-wide poll in order to assist the Language Committee in determining possible preferences among current staff and students for language models. The possible models have emerged from the broad consultation process.

Please note that the campus-wide poll is NOT a formal voting process or referendum and will form only one part of many deciding factors that will be referred to the UFS Council on 20 November 2015 for their deliberations regarding the future of the language policy at the UFS. The poll, conducted by the Independent Electoral Commission (IEC), will be indicative of the preferences of staff and students for possible language model options, with specific focus on language of instruction.

The poll will take place at the following venues from 21-28 October 2015, 08:00-16:30, including the weekend:

Bloemfontein Campus: Kestell Residence Gazellie

Qwaqwa Campus: VIP Lounge

South Campus: Conference Hall

To take part in the polling, a valid staff or student card must be produced. Polling will take place on the basis of one poll per current staff member/student.

We look forward to your participation in the poll and hereby thank the entire university community for their ongoing interest and responsible engagement with the review process.

For inquiries send an email to language@ufs.ac.za or call 051 401 3422051 401 3422.

The UFS Language Committee

Click here for the question and answer page.

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