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29 August 2024
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Story Anthony Mthembu
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Photo Harmse Photography
Ross van Reenen, CEO of the Toyota Free State Cheetahs.
The Business School at the University of the Free State (UFS) recently hosted the CEO of the Toyota Free State Cheetahs, Ross van Reenen, for a guest lecture. Van Reenen presented the guest lecture in the Business School Auditorium on the UFS Bloemfontein Campus on 21 August 2024.
Reflecting on Van Reenen’s address
In a lecture addressed to an auditorium filled with UFS staff and students, Van Reenen’s talk was divided into several sections. Firstly, he spoke about the concept of the ‘black swan’ in reference to the book written by Nassim Nicholas Taleb, titled The Black Swan: The Impact of the Highly Improbable. Referring to Taleb’s book, Van Reenen defined a ‘black swan’ as a rare event that has a severe impact, and the occurrence of which people try to explain. He used some examples to explore this concept as well as its implications, including COVID-19 and its impact on the world, and the tragic death of the people in the Titanic disaster. However, he delved deeper into 9/11 and the extent of its impact, saying that “9/11 was a major wake-up call in the world economy”. Van Reenen highlighted how some companies such as Barclays, for which he previously consulted, had to work to be up and running after the collapse of the Twin Towers in 9/11.
In addition, Van Reenen’s lecture also touched on the importance of the first ninety days of a job after an individual has been employed. “Those first ninety days are crucial, as you have to establish yourself in a company where you are paid less than you are worth,” Van Reenen said. As such, he gave the audience insight into what they could focus on in that time frame. This includes focusing on the small wins, as well as ensuring that you are working at keeping the team together, as the team is an integral part of an organisation.
Van Reenen concluded his address by speaking about his time as the CEO of the Toyota Free State Cheetahs, including some of the decisions he took to ensure the success of the organisation.
Kovsies do well in SAICA QE1 exam
2010-06-10
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Students from the University of the Free State (UFS) performed well in Part I of the Qualifying Examination (QE I) of the South African Institute of Chartered Accountants (SAICA).
Of the 43 Kovsie students who wrote this examination for the first time, 34 (79%) passed. The average passing rate for residential universities is 73%.
This exam sets the standard for Chartered Accountants (CA) and is written after the completion of the B Acc (Hons). The QE1 aims to assess the core technical competencies of prospective CAs.
The examination consisted of four sections, namely Auditing, Financial Accounting, Management Accounting and Taxation. The Kovsie students had the best results in the country in the Taxation section. This is an enormous accomplishment, as the average percentage of the 14 accredited universities writing the examinations for Taxation was 51.6%. The Kovsie students passed with an average of 65.38%.
Prof. Hentie van Wyk, Programme Director at the Centre for Accounting at the UFS, says he is satisfied with the results and the standard of the Kovsie students who wrote the exam. Five students who passed the QE1 exam are currently academic clerks at the Centre for Accounting. The five clerks will start their second year of practical traineeship at different companies/firms in 2011.
In order to qualify as a CA and become a full member of SAICA, the students will also have to complete a specialist diploma, pass the final examination and complete the remaining period of their practical training. Once all three these requirements have been completed, the students will qualify as CAs in South Africa.
Media release
Issued by: Lacea Loader
Director: Strategic Communication (acting)
Tel: 051 401 2584
Cell: 083 645 2454
E-mail: loaderl@ufs.ac.za
9 June 2010
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