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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.  
Prof Frans Prinsloo, Director of the School of Accountancy, welcomed guests, partners, and students to the event.
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.
Conrad de Wee, Chairman of the SAICA Central Region Council and Senior Manager at Mazars.
Rob Rose, ‘Financial Mail’ Editor and author of ‘Steinheist’.
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.
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.
Patricia Stock, audit partner and CEO of MGI RAS and former SAICA board member.

News Archive

UFS welcomes Prof Francis Petersen as new Vice-Chancellor and Rector
2017-04-02

 

Prof Francis Petersen takes up office as the 14th Vice-Chancellor and Rector of the University of the Free State today.
 
“On behalf of the UFS Council and the university community, I would like to welcome Prof Petersen to the university. He brings to the UFS a distinguished academic record, confident leadership, innovative thinking, and an understanding of the extent of the challenges being experienced by universities in the broader South African context,” says Mr Willem Louw, Chairperson of the UFS Council. 
 
“I am excited to join the UFS and look forward to meeting the university community, to get to know the three campuses, and to engage with staff and students. In a way, it was a natural progression for me to be appointed in this position, having been Dean of the Faculty of Engineering and the Built Environment at the University of Cape Town (UCT), and then Deputy Vice-Chancellor: Institutional Innovation at the same university.  On the other hand, I believe that universities in South Africa need strong and innovative leadership. I would like to make a contribution to the higher-education system in this regard.  Moreover, I regard the UFS as a very good university, and see my challenge in taking the UFS to the next level,” says Prof Petersen.
 
“Challenges and making a difference motivate me – whether complex or simplistic, the opportunity to be able to provide solutions and taking people with me while developing these solutions, is what ultimately motivates me.”
 
“It is important that different viewpoints are respected. The UFS must be a place where everyone feels welcome. There must be a strong sense of belonging; staff and students must feel they are making a contribution to the university,” he says.
 
According to Prof Petersen, the major challenge for the university is its institutional climate.  “My focus would be to strive towards creating an institutional climate of inclusivity, respect for one another, valuing diversity in all its forms, and to make the university a welcoming place. The UFS is in the process of developing an Integrated Transformation Plan (ITP) that will serve as the road map to address the institutional climate challenge, but will also assist (if implemented effectively) in excelling the UFS in areas of teaching and learning, research and innovation, and community engagement through scholarship,” says Prof Petersen.

“I am a good listener, I am outcome-based, and my vision for the university includes diversity, inclusivity, and academic excellence,” he says.

Prof Petersen was born in Oudtshoorn and grew up in Malmesbury in the Western Cape, where he also matriculated. He graduated from Stellenbosch University with a BEng (Chem Eng), MEng (Metal Eng), and PhD (Eng) degrees and completed a short course on Financial Skills for Executive Management. He is a recipient of the Ernest Oppenheimer Memorial Trust Award for research excellence, and was visiting professor at the Cape Technikon and extraordinary professor in the Department of Chemical Engineering at Stellenbosch University. He is a regular reviewer of journals, and member of a range of editorial boards for international journals. He is also a registered professional engineer with the Engineering Council of South Africa and a Fellow of both the South African Institute of Mining and Metallurgy, and the South African Academy of Engineers.

 He brings to the position of Vice-Chancellor and Rector his extensive experience of management in both the industry and academic sectors. He has been the executive head of strategy at Anglo American Platinum and head of the Department of Chemical Engineering at the Cape Technikon (now Cape Peninsula University of Technology). Among others, he previously served as member on the Board of the Council of Scientific and Industrial Research, the National Advisory Council on Innovation, and the Council of the Academy of Science of South Africa.

 Prof Petersen is married and has two sons. He was appointed by the UFS Council at the end of 2016 after Prof Jonathan Jansen stepped down as Vice-Chancellor and Rector on 31 August 2016, serving in this position since July 2009. Prof Nicky Morgan, Vice-Rector: Operations at the UFS, has been acting Vice-Chancellor and Rector since 1 September 2016.

 

Released by:
Lacea Loader (Director: Communication and Brand Management)
Telephone: +27 51 401 2584 | +27 83 645 2454
Email: news@ufs.ac.za | loaderl@ufs.ac.za
Fax: +27 51 444 6393

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