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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

UFS Centenary 2004 / 2005 October (centenary) fest Activities

2004-10-08

Friday, 08 October 2004
17:00 – 24:00
Callie Human Centre, UFS
Macufe Rock Concert
With: Rooibaardt, Karen Zoid, The Narrow, F****polisiekar, Stuurbaard Bakkebaard (from the Netherlands), DJ Bob, Ready D, Neva Me.
Cost : R50-00
Bookings : Pacofs (051-447 7772)

Sunday, 10 October 2004
16:00 – 18:00
Callie Human Centre, UFS
Macufe Three Tenors Concert
With: Phillip Kotze, Chris Coetzer and Du Preez Stolz, as well as Angela Kerrison. Free State Symphony Orchestra conducted by Chris Dowdeswell.
Cost :R60-00 (adults), R40-00 (children, scholars, students and pensioners)
Bookings : Pacofs (051-447 7772)

Tuesday, 12 October 2004
11:00 – 15:00
Centenary Complex, UFS
Inauguration of Centenary Complex
Open day with a variety of musical recitals in different rooms
Cost : Free
Enquiries : Elize Rall (051-401 3382)

15:00 – 17:00
Parking area next to the Centenary Complex, UFS
Kovsie Mosaic Day
Collage of the Century, Dance to the beat, Cultural Cartoon,
Who’s line is it anyway?
Cost : Free
Enquiries : Louis Botha (051-401 2819) or
AC Geldenhuys (084 585 3338)

Wednesday, 13 October 2004
19:00
Centenary Complex, UFS
Première of documentary film : The Life and Legacy of King Moshoeshoe
Note : By invitation only
Enquiries : Elize Rall (051-401 3382)

Thursday, 14 October 2004
18:45 – 21:00
Red Square (in front of Main Building), UFS
Centenary Honorary Doctorate Degree Graduation Ceremony
Conferred on: Me. Antjie Krog, Prof. Jakes Gerwel, Mr. Karel Schoeman, Dr. Frederick van Zyl Slabbert, Prof. Saleem Badat, Dr. Khotso Mokhele, Prof. Robert Bringle, Prof. Leo Quayle, Prof. Jack de Wet, Prof. Kerneels Nel (posthumously), Prof. Boelie Wessels and Prof. Jaap Steyn .
Cost : Free. Please RSVP if you would like to attend.
Enquiries : Elize Rall (051-401 3382)

Friday, 15 October 2004
18:30
Centenary Complex, UFS
Alumni Dinner and Centenary Award Ceremony
Approximately 140 centenary medals will be awarded in acknowledgement of exceptional contributions to the development of the University. The award ceremony is followed by the Alumni dinner in the Callie Human Centre.
Cost : R100-00/person
Enquiries : Elize Rall (051-401 3382)

15:00 (to 12:00, Saturday, 16 October 2004),
UFS campus
Reunion : Momentum Adventure and Expedition Association
Including : Setting up of the Kovsie Momentum base camp, champagne breakfast and abseiling.
Cost : R50-00/person for breakfast
Enquiries : Gerrit van der Merwe (072 4317 153) or
Niel Fraser (082 772 5642)
Website : www.uovs.ac.za/associations/momentum_hrcc.

19:00 (to 11:00 Sunday, 17 October 2004)
Reunion : Cantare Revue Group
Including : Formal dinner, budget show, bring and braai, church service.
Cost : R100-00/person for the dinner
Enquiries : Louis Botha (051-401 2819)

19:00 (to 24:00 Saturday, 16 October 2004
Reunion : House NJ van der Merwe
Including : Senior Student’s Association and concerts
Cost : R5-00/person
Enquiries : Tutu Ntlathi (051-401 4122 / 072 865 2227)

Saturday, 16 October 2004
09:00 – 10:00
Committee Room 120, Faculty of Theology
Founding of Theology Alumni Association
Enquiries: Henna Nel (051-401 2669)

10:00 – 12:00
Parking area, CR Swart Building, UFS
Alumni Campus Tour
Including : Visits to the new physical developments on campus
Cost : Free
Enquiries : Jeanette Jansen (051-401 3594)

10:00 – 12:00
Sonnedou gazellie (next to NJ van der Merwe Residence), UFS
Reunion : Ladies’ Tea
Visit our new gazellie and find out what Sonnedou is up to these days.
Cost : R25-00/person
Enquiries : Anne-Marie Delport (072 109 0507)

12:00 – 16:00
JBM Hertzog Residence (garden in front of Senior Student’s Association), UFS
Reunion : Braai
Cost : Approximately R20-00/person
Enquiries : Hattingh Bornman (084 240 5226)

12:00 Vergeet-my-nie Residence, UFS
Reunion : Braai
Bring and braai. We supply the facilities. Bring old photographs and stories. Enjoy Aunt Juls’ last visit.
Cost : Free
Enquiries : Mari Jordaan (051-444 2832/072 392 4444)

12:00 HF Verwoerd Residence Senior Student’s Association, UFS
Reunion : Spit roast
Cost : R60-00/person
Enquiries : Jan-Chris Landman (051-401 3613 / 082 664 6062)

18:30 Floreat Hall, Bloemfontein Civic Centre (Braam Fisher Building)
Irawa 60 Reunion
For all former editors, former and current main editorial staff and coworkers
Cost : R100-00/person
Enquiries : Sanri van Wyk (072 333 1011)
Elzette Boucher (072 180 6265)

19:00 – 24:00 Red Square (in front of Main Building), UFS
Informal Alumni Reunion
Spit roast and stories in a marquee
Cost : R60-00/person
Enquiries : Elize Rall (051-401 3382)

Sunday, 17 October 2004
10:00 – 11:00
Kovsie Church
Church Service

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