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07 July 2023 | Story Kekeletso Takang
UFS Industry VisitsUFS Industry Visits - promoting student development
Students from the University of the Free State (UFS) recently had the opportunity to visit four Bloemfontein companies as part of their learning experience in the School of Accountancy.

The University of the Free State (UFS) is committed to producing employable graduates. Being student-centred, the UFS is continuously seeking opportunities to promote the learning experience by taking a holistic approach where teaching and learning extend beyond the four walls of a lecture hall. It is to this end that the UFS School of Accountancy recently took hands with local businesses to expose students to the real world of work through industry visits.

Aimed at providing students with insights into the real world, the industry visits are the initial point of contact between students and the working industry. The approximately 280 students in the Bachelor of Accounting (final-years), Bachelor of Commerce Honours in Accounting, and Postgraduate Diploma in General Accountancy were exposed to the real world so they could see first-hand what professional accountants do, how the business world works, and how their different modules integrate.

Four of Bloemfontein’s largest companies agreed to host a group of 70 students each. Students were given the opportunity to sign up for the company they found most interesting. The companies – Raubex Infra, SA Truck Bodies, Interstate Bus Lines, which sponsored transport to and from all the companies, and Sun Windmill Casino – function in the construction, manufacturing, transportation, and entertainment sectors, respectively. Students were not only treated to talks by the directors and senior staff of all the companies who took time to address them and share insightful information about their operations, but also to tours and treats.

“The updated SAICA competency framework, which guides most of our teaching at the School of Accountancy, requires us to enhance our focus on professional values, attitudes, and acumens (PVAAs). The industrial visits specifically address business acumen, but the added benefit is that it inspires and excites students, as it exposes them to where they may be in future," says Ané Church, Lecturer in the School of Accountancy.

The industry visits were not only fun and tours, but students were also tasked with writing a reflective essay after the visit, setting out what they learnt, found interesting, and would recommend to the respective companies. This, in turn, addressed students’ writing skills and uses reflection as a means of learning.

News Archive

Academic addresses financial planning leaders at world summit
2010-05-04

Adv. Wessel Oosthuizen, Director of the Centre for Financial Planning Law at the University of the Free State (UFS), addressing financial leaders at the World Financial Planning Summit.


Adv. Wessel Oosthuizen, Director of the Centre for Financial Planning Law at the University of the Free State (UFS), is chair to four Financial Planning Standards Board (FPSB) expert panels that guide the global Certified Financial Planning (CFP) certification programme. At the recent World Financial Planning Summit, held in Taipei in China, he challenged a group of global financial planning leaders to support the formation of a global financial planning body of knowledge with sustainable career-path development opportunities.

He said: “For financial planning to be recognised as a distinct professional practice and a global profession, the financial planning community must establish a universal body of knowledge that is supported by applicable in-depth research.

“We need to establish how professional bodies should collaborate with academia to integrate a more competency-based education and training environment that combines theory with practice. Fostering and promoting comprehensive research in financial planning topics is another key challenge that must be addressed in order to develop a tertiary knowledge framework for the financial planning profession.”

Adv. Oosthuizen, who is playing a big role in providing consistent and rigorous education and assessment tools for financial planning in 2010, said that a bachelor’s degree should be a compulsory minimum requirement for practising financial planners.

About the learning curve between the academic and work environments in the financial planning profession, Adv. Oosthuizen said: “Implementing a career-path model that supports a more structured approach to apprenticeships and supervised practice would complement a specialised financial planning body of knowledge and provide entrants to the profession with the necessary theoretical knowledge and practical experience to offer competent and ethical financial planning.”

The World Financial Planning Summit engaged global leaders of more than 17 financial planning standards-setting bodies, as well as regulators, financial planning educators and other invited guests in a dialogue about the steps needed to gain recognition for financial planning as a distinct, global profession.
 

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