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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

Report card for UFS outlines major achievements
2005-02-04

Staff at the University of the Free State (UFS) have received above-inflation increases in remuneration averaging 18,2 percent since the year 2000, according to the Rector and Vice-Chancellor, Prof Frederick Fourie.

Delivering a keynote speech at the Official Opening of the UFS today, Prof Fourie gave a report card for the UFS which he said indicated significant progress in salaries and promotions as well as capital expenditure and infrastructure development on the campus.

“The aggregate extra earnings of staff (money in their pockets above inflation) from 2000 to 2005 amount to R75 million in salaries. This is the result of the hard work of all staff and we pay tribute to them,” he said.

Prof Fourie said that several categories of staff are better off than before the financial turn-around strategy was implemented in 2000 which aimed to make the UFS a financially sustainable campus.

The lowest paid workers and professors had received an additional structural correction, which gave professors at the UFS a 27% above-inflation increase (on total remuneration package) since 2000.

He said there had also been a dramatic increase in promotions to associate professor and full professor during the last 6 years.

From 1999 to December 2001, there were only 9 promotions to associate professor. From January 2002 to January 2005, there were 37 such promotions to associate professor, four times as many.

Regarding promotions to full professor, from 1999 to December 2001 there were 7 promotions. From January 2002 to January 2005, there were 31 promotions to full professor, more than four times as many.

“We have also created a new category of senior professor to give due recognition to the outstanding work of our leading academics in many fields,” Prof Fourie said.

The UFS has introduced numerous new and innovative learning programmes, together with an increasing number of community service modules which enhanced the UFS as a leader in service learning and helped to make it a university engaged with its surrounding community.

According to Prof Fourie the number of support staff had also grown along with the professionalisation of the support services.

He said management was aware that there still several challenges regarding staff overload and staff development but that these were being addressed

Media release
Issued by: Lacea Loader
Media Representative
Tel: (051) 401-2584
Cell: 083 645 2454
E-mail: loaderl.stg@mail.uovs.ac.za
4 February 2005

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