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29 October 2024 | Story Jacky Tshokwe | Photo Supplied
RAiN Automate Innovate Challenge 2024
The University of the Free State accounting students rise to the challenge in the RAiN Automate to Innovate Challenge.

The School of Accountancy at the University of the Free State (UFS) is leading a forward-thinking initiative by introducing the RAiN Automate to Innovate Challenge in 2024. This marks the first time that the UFS has run this challenge, and it is already making waves in the accounting education landscape. As one the few Accountancy department in South Africa to host such an event, the UFS is paving the way for technological integration in the academic world, setting the stage for future inter-university competitions.

The RAiN Automate to Innovate Challenge invited second-year BAcc students enrolled in the EIDE2724 module to participate in groups of three to four. Their task was to identify and solve a real-world problem related to either students or business by developing a robotic process automation (RPA) bot using Power Automate.

The challenge followed an exploratory learning approach, empowering students to dive into the world of automation with minimal formal lecturing. This approach develops students’ creativity and problem-solving skills. The students worked hard to master Power Automate and applied their knowledge to build automation bots that successfully solved business and student life problems.

Presentations and the final showdown

After presenting their bots on 10, 11, and 14 October, the top six groups were announced in class, eagerly awaiting the grand finale. The final round took place on 18 October from 12:00 to 14:00, where the top six groups competed head-to-head.

A distinguished panel of judges, consisting of three judges from RAiN Auditors and three from the UFS, evaluated the bots based on creativity, functionality, and potential impact. By the end of the event, the winning groups were announced, and the following prizes were awarded:

  • First place: R1 500 each
  • Second place: R1 200 each
  • Third place: R1 000 each

The prizes were generously sponsored by RAiN Auditors, showcasing their commitment to fostering innovation in education.

Looking ahead

As the first South African university to run this type of challenge, the UFS aims to inspire other institutions across the country to follow suit. The School of Accountancy is eager to expand this competition, with the hope of challenging other universities in 2025 and beyond, creating a platform for students to showcase their technical skills and business acumen in the rapidly evolving field of accounting.

Stay tuned for the impact and future growth of the RAiN Automate to Innovate Challenge, where we continue to push boundaries and prepare the next generation of accountants to excel in a digital world.

For more insight into the competition, check out the video recap [here](insert Vimeo link). Be sure to explore the image gallery, showcasing the incredible work and teamwork of our students.

Check out the video here for more details.

News Archive

Kovsies do well in SAICA QE1 exam
2010-06-10

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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