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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

UFS takes lead in improving quality of training in economics in schools
2006-06-20

The fourth international workshop for trainers in the National Council on Economic Education’s (NCEE) outreach programme for Africa, Latin America, Asia and the Middle East will be presented in Bloemfontein from 18-24 June 2006.

 “Because of the rapid success we achieved in the Free State with similar workshops in Economics education that were presented by the NCEE the past year, we have now invited representatives from education departments and universities of five other provinces to attend the international workshop for trainers,” said Prof Klopper Oosthuizen, lecturer at the University of the Free State’s (UFS) Department of Agricultural Economics and initiator of the cooperative agreement with the NCEE.

 The UFS and the Free State Department of Education are the NCEE’s first partners in Africa who received this training.  “The attendance of the five provinces and universities is the first step in the extension of the programme to the rest of the country,” said Prof Oosthuizen. 

 The NCEE is based in the United States of America (USA) and the workshop forms part of the council’s effort to improve the quality of the training of Economics teachers and lecturers across the world. 

 “South Africa is urgently in need of efforts to improve the integration of black people into the market economy.  An understanding of how markets work is one of the pillars of democracy.  Equipping young people with economic understanding and skills will help empower them for responsible roles as individuals and citizens,” said Prof Oosthuizen.

 According to Prof Oosthuizen representatives from the education departments of the Northern Cape, Western Cape, Eastern Cape, KwaZulu-Natal and North West will also be attending the international workshop for trainers.  Representatives from the Universities of Rhodes, of KwaZulu-Natal, North West and the Durban University of Technology as well as the Cape Peninsula University of Technology will also attend the workshop.

 During this workshop teachers and lecturers in Economics will receive certificates. 

 Various subjects will be covered during the workshop such as world trade patterns, cost and benefits of free trade, exchange rates and international finance.  The training will be done by representatives from the NCEE by using methods such as direct instruction and role play.

 The NCEE is also in the process of training teachers and learning facilitators in the Free State in an effort to improve the quality of Economics classes in secondary schools. 

 “A group of 84 teachers and learning facilitators were trained in December 2005, 50 were trained in January 2006 and the last group of 40 will be trained at the UFS Main Campus in Bloemfontein from 26 June - 1 July 2006,” said Prof Oosthuizen.

 During this seminar the teachers will be trained in issues such as broad social goals in an economy, economic decision making, government’s role in a market economy and fiscal policy.  The training will also be done by representatives from the NCEE.

 The NCEE has been working together with international partners since 1992 to strengthen their Economics teaching systems.  They have already succeeded in increasing literacy in Economics at schools in the USA and more than 20 East Block countries.  More than 1,5 million learners in the East Block countries have already been served by this initiative.  Since 2004 the NCEE’s focus has moved away from the East Block countries to Africa, Asia, Latin America and the Middle East.

 “Our future plans include strengthening the growing partnership between the UFS, the Free State Department of Education and the NCEE.  We also want to establish a council and centres for economic education which will serve as an umbrella for our joint efforts,” said Prof Oosthuizen.

Media release
Issued by: Lacea Loader
Media Representative
Tel:   (051) 401-2584
Cell:  083 645 2454
E-mail:  loaderl.stg@mail.uovs.ac.za 
20 June 2006

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