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UFS students shine at Coventry University’s International Audit Week

22 November 2024 | Story Lunga Luthuli | Photo Supplied

International Audit Week 2024 — UFS students at Coventry University’s International Audit Week, marking a historic first for South African and Global South universities participating in this prestigious global accountancy gathering.

In a significant first for any university in South Africa and the Global South, five students from the University of the Free State (UFS) participated in Coventry University’s prestigious International Audit Week (IAW). This global gathering of top accountancy students from various countries took place from 28 to 30 October 2024 in England.

The UFS School of Accountancy earned the invitation through a Collaborative Online International Learning (COIL) project initiated earlier this year. Prof Frans Prinsloo, Vice-Dean for Learning, Teaching, Innovation, and Digitalisation in the Faculty of Economic and Management Sciences, said, “Our participation signifies a major step in our internationalisation strategy. We were the first university from the Global South to attend, showcasing our students’ exceptional skills and fostering global collaboration.”

Trailblazing students

The selected students – Charlene Black, Twisiso Mathonsi, Heike de Nysschen, Charlize Oosthuizen, and Boitumelo Radebe – are among the top performers in the Postgraduate Programmes in Chartered Accountancy (PGCA). These future chartered accountants were chosen based on their stellar mid-year results, as final marks were unavailable before the trip.

Black expressed her excitement, stating, “Being selected to represent UFS at such a prestigious event was a tremendous privilege. It reinforced my decision to pursue the CA(SA) qualification and inspired me to make impactful contributions to the profession.”

Mathonsi, equally thrilled, reflected on the significance of the experience, saying, “Attending IAW was a dream come true. It validated my hard work and gave me a unique opportunity to engage with global perspectives on auditing.”

International insights and learnings

The week’s highlights included interactive sessions and industry tours. Black found the visit to Morgan Motors particularly inspiring, noting, “Witnessing their manufacturing process and reliance on paper-based job cards was fascinating. It was a reminder of the diverse practices within industries globally.”

Mathonsi recalled the collaborative activities, particularly a group project at Shakespeare’s birthplace. “It was both fun and insightful, emphasising teamwork across cultural and linguistic differences,” he said.

The students were exposed to cutting-edge developments in auditing, including the integration of artificial intelligence. These insights deepened their understanding of global industry trends and standards, such as the IFRS Foundation Standards and International Standards of Auditing, and highlighted differences in professional qualifications and practices between South Africa and the UK.

Sponsorship and support

This historic participation was made possible by the generosity of sponsors, who contributed over R250,000. The Raubex Group led with R150,000, followed by Rain Chartered Accountants (R50,000), Core Bloemfontein (R20,000 and K-Way jackets), the South African Institute of Chartered Accountants (R20,000), and Interstate Bus Lines (R10,000).

Prof Prinsloo emphasised the importance of such collaborations: “Our visionary sponsors recognised the immense benefits of this initiative for our students. Their support underscores the value they place on nurturing future leaders.”

Global impact and future plans

The experience not only elevated the students’ aspirations but also boosted the UFS’s international reputation. “Our students’ technical competence often surpassed that of their peers, cementing UFS as a global player in accountancy education,” Prof Prinsloo noted.

Looking ahead, the School of Accountancy plans to expand its international partnerships and aims to host the International Audit Week in Bloemfontein by 2026. For Mathonsi, the advice to future students is clear: “Work hard even when no one is watching; dedication always pays off.”

The UFS delegation’s success at IAW exemplifies the university’s commitment to excellence, global engagement, and producing graduates poised to make a difference on international and local platforms.

News Archive

Universities can contribute to economic transformation

2010-01-27

At the lecture were, from the left: Prof. Neil Heideman (Acting Dean: Faculty of Natural and Agricultural Sciences), Prof. Hartmut Frank (University of Bayreuth, Germany), Prof. Bianchi and Prof. Jan van der Westhuizen (professor in Chemistry at the UFS).
Photo: Mangaliso Radebe

Universities have a role to play in economic transformation and industrial development according to Prof. Fabrizio Bianchi, the Rector of the University of Ferrara in Italy.

This was the core message of his lecture on the topic Globalisation, Agriculture and Industrial Development that he delivered at the University of the Free State.

He said after the collapse of the agricultural industry in Italy as a result of the subsidies that the farmers were receiving from the government, the university had to step in.

“This was meant to maintain high prices and maximize the production but in the long run this approach created problems because the farmers were no longer producing high quality products but large quantities in order to receive subsidies,” he said.

“The result was that the government itself had to destroy those poor quality products. This was a completely unreasonable way to manage the economy”.

He said they had to abandon that approach and concentrate on quality because they realized that Italy could not match the prices and the quantity, in terms of production, of countries like China and the USA.

He said “knowledge and human resources” were the key factors that could get them out of that crisis; hence they came up with what he called “the Made in Italy approach”.

“We were working on the idea that food is part of culture and that it is not just simply for refueling the body,” he said.

“One of the fundamental ideas was to come back to the idea that production is the centre of the development process.”

“Quality is a very complex, collective issue,” he said. “You cannot understand development if you do not understand that you have to base it on strong roots”.

This approach resulted in the formation of several companies with specialized niche markets producing high quality products.

His visit to the UFS coincided with that of the 1991 Nobel Laureate in Chemistry, Prof. Richard Ernst from Switzerland, who was also part of the fourth presentation of the Cheese fondue concept.

The main thrust of this concept is that technical advances alone are insufficient for an agreement to be reached on the minimum respect between the various groups and individuals within a society. It proposes that for this to be achieved there has to be a concurrent development of empathy and emotional synergy.

Media Release
Issued by: Mangaliso Radebe
Assistant Director: Media Liaison
Tel: 051 401 2828
Cell: 078 460 3320
E-mail: radebemt@ufs.ac.za
27 January 2010

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