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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.  

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Pursuit of excellence a strong focus for incoming UFS Vice-Chancellor
2017-02-06

Description: Official opening 2017 Tags: Official opening 2017

Prof Francis Petersen, the incoming
Vice-Chancellor and Rector of the UFS,
shared his future plans for the university
with staff during the official opening.
Photo: Johan Roux

Video clip
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The newly elected Chairperson of the UFS Council, Mr Willem Louw, and Prof Francis Petersen, the incoming Vice-Chancellor and Rector of the UFS, were welcomed at this year’s official opening of the academic year which took place at the Bloemfontein Campus of the University of the Free State (UFS) on 3 February 2017.  

Prof Petersen, who will start his tenure at the UFS on 1 April 2017, was introduced to staff by the Acting Rector, Prof Nicky Morgan. Prof Petersen shared his future plans for the UFS with staff.

His vision for the UFS spells excellence. Among others, he seeks to establish an academic culture of excellence, underpinned by the pillars of diversity and inclusivity. “It is important that there should be respect for different convictions,” he said.

“The UFS should be a place where everyone feels welcome; a strong sense of belonging is needed. Staff and students should feel that they would like to make a contribution to make the UFS a strong university,” he said.

In order to address the institutional climate issue, Prof Petersen suggests that attention be given to the curriculum as well as transformation of the research culture. Research outputs should be expanded and diversified. Inclusivity from a community engagement perspective is also needed. “The things we are good at and in which we excel should be the anchors impacting our academic enterprise,” he said.

In terms of the physical environment, he said that spaces should be welcoming for students. “It is important that we sit with students to get their views and listen to their concerns,” Prof Petersen said.

To promote transformation at the university, the UFS management team is busy working on an integrated transformation plan to be submitted to Council in June 2017. As part of this process, consultations will be held with staff and students in order to incorporate their perspectives and convictions in the plan as well.

“It is important that there should be
respect for different convictions.”

Furthermore, it is important for Prof Petersen that the Qwaqwa and South Campuses should be more integrated with the Bloemfontein Campus. “The UFS is one university with three locations. The fact that it is one university should be reflected in our actions, attentions, and thoughts. Although there are geographical differences, all three campuses should receive the same resources and should deliver the same quality outputs,” he said.

Prof Petersen ended his speech by returning to the importance of academic excellence. “With the Academic Project we always strive for excellence. To achieve academic excellence, the focus is on both academic and support staff. In order to reach our goal, all staff should produce work of superior quality,” he said.

“I am a good listener who is outcome driven, with a vision that includes: diversity, inclusivity, academic excellence, and innovation”, Prof Petersen concluded.  

 

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