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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

Parking at UFS for visitors

2007-11-10

UFS creates more parking for visitors

In its effort to make it easier for visitors to park on the Main Campus of the University of the Free State (UFS) in Bloemfontein, two paid parking areas will be put into operation as from Monday, 5 November 2007.

These parking areas are part of a comprehensive new parking strategy of the UFS, which is being implemented since September 2007. As part of the strategy, areas of the central campus have been reserved for staff and visitors and hundreds of new parking areas were developed for students at the entrance in Wynand Mouton Avenue (at the Faculty of Health Sciences) and the entrance in DF Malherbe Avenue (at the Agriculture Building).

“The paid parking areas for visitors, which are as close as possible to the busy and largely closed-off central campus, were created as an additional service to visitors,” said Ms Edma Pelzer, Director of Physical Resources at the UFS.

According to Ms Pelzer, persons who attend meetings, seminars or short courses, visiting colleagues, consultants, service providers, family of students and staff members, clients, etc. can make use of this parking.

“We have found that it is often difficult for visitors to obtain parking in or close to the central campus. Now they will have a choice to either park in the visitors parking areas at a minimal fee or to park in any of the open unreserved parking areas on campus,” said Ms Pelzer.

The areas, which will be closed off behind booms on weekdays from 06:00 until 18:00, are situated to the eastern side of the “Red Square”, east of the CR Swart and Idalia Loots Buildings and west of Campus Avenue North between the Psychology and the Flippie Groenewoud Buildings.

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
2 November 2007

Parking for visitors: Important notice:

As from Monday 5 November 2007 two paid parking areas on the UFS Campus will be put into operation. The areas will be closed off behind booms on weekdays from 06:00 until 18:00. These will be manned and R3 per hour will be charged.

The following areas are involved:

P3: The area to the east of the “Red Square”, east of the CR Swart and Idalia Loots Buildings.
P6: The area to the east of Campus Avenue North between the Psychology and Flippie Groenewoud Buildings.

The friendly co-operation of users of motor vehicles on campus is requested to allow this implementation to proceed as smoothly as possible.

Parking for visitors: More information

The strategy to create paid parking areas for visitors

The decision to reserve areas in the central campus areas for the convenience of visitors was taken as part of the comprehensive new parking strategy of the UFS approved by the Executive Management in May 2007 and which is being implemented since September.

All visitors need not park in these areas. Visitors may park for free on any open (unreserved) parking bay on campus. These paid parking areas for visitors, as close as possible to the busy and largely closed-off central campus, have been created as an additional service to visitors.

The strategy to close off parts of the central campus for staff members and visitors was implemented after sufficient alternative parking areas had been developed for students.

What is meant by the term “visitors”?

It includes all persons who are not students of staff members of the UFS and who visit the campus for one reason or another. Persons who attend meetings, seminars or short courses, visiting colleagues, consultants, service providers, family of students and staff members, et cetera are included.

As at present, it will, of course, be possible to make special arrangements with Protection Services to make it possible for VIP visitors to park as near as possible to their destinations.

No student or staff member will be actively prevented from parking in the area. They will, however, be discouraged by the fact that R3 per hour will be charged without exception.

The visitors’ parking area and access to it

P3: The area to the east of the “Red Square”, east of the CR Swart and Idalia Loots Buildings. The area is within easy walking distance for visitors to, among others, the following buildings: George du Toit Administration Building, Theology Building, Idalia Loots Building, CR Swart Building, Johannes Brill Building, Van der Merwe Scholz Hall.

The area is conveniently accessible from the following entrances: Nelson Mandela Drive, Groenewoud Street and Wynand Mouton Drive.
P6: The area to the west of Campus Avenue North, between the Psychology and Flippie Groenewoud Buildings. The area is within easy walking distance for visitors to all the academic buildings in the central campus, such as the Chemistry Building, Stef Coetzee Building, the Geography Building, et cetera and located directly opposite the general information point on the Thakaneng Bridge.

The area is conveniently accessible from the following entrances: Fürstenburg Road and DF Malherbe Avenue (at the Agriculture Building).

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