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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

Interpreting implemented at UFS residences

2007-10-12

The University of the Free State (UFS) has begun to implement interpreting services at student residence meetings on the Main Campus in Bloemfontein, as part of the management of diversity and the racial integration of its residences.

As a pilot project, the interpreting services are being offered since the third term at Emily Hobhouse and Roosmaryn ladies residences, where a significant racial diversity already is present. From next year this service will be extended to all the student residences on the Main Campus.

The interpreting project is being managed by the Department of Afro-asiatic Studies, Sign Language and Language Practice at the UFS.

“Students in training at the Department of Afro-asiatic Studies, Sign Language and Language Practice and senior interpreters from the UFS are currently interpreting during residence meetings,” said Prof. Jackie Naudé, Departmental Chairperson of the UFS’s Department of Afro-asiatic Studies, Sign Language and Language Practice.

“Students in these residences are given the opportunity to be trained to interpret during their residence meetings. Four students from each hostel are being trained as interpreters,” said Prof. Naudé.

According to Prof. Naudé both residences have meetings that take place on a Monday evening at 22:00. Interpreting is also provided at the first-year students’ meetings at Emily Hobhouse on Tuesday evenings.

The interpreters experience the interpreting at the residences as positively and they experience that students often do utilise this service. At Roosmaryn 16-18 students are utilising the interpreting service, while at Emily Hobhouse approximately 18 students are utilising the service.

“The interpreting service definitely contributes to the enhancement of communication during residence meetings. Students can exactly follow what is happening during the meetings. In the past a residences like Emily Hobhouse tried to repeat everything in English, which extended the meetings,” Prof. Naudé said.

With the envisaged extension of interpreting services in hostel meetings to all the hostels on the Main Campus in Bloemfontein, there is a need for interpreters as these meetings will take place simultaneously. Through this initiative, exiting new opportunities are created for aspiring interpreters. The training takes place under leadership of Prof. Annelie Lotriet who holds the ATKV Chair in Interpreting in the department.

Aspiring candidates can contact Mr Cobus Snyman, Manager of the UFS’s interpreting projects at 051 401 9005 in connection with the selection criteria for interpreters.

Media Release
Issued by: Lacea Loader
Assistant Director: Media Liaison
Tel: 051 401 2584
Cell: 083 645 2454
E-mail: loaderl.stg@ufs.ac.za
14 October 2007

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