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15 August 2025 | Story Tshepo Tsotetsi
Business Acumen Day
The UFS School of Accountancy recently hosted its third annual Business Acumen Day and Panel Discussion, featuring former Chief Justice Raymond Zondo, Prof Deon Rossouw, Rochelle Murugan, and Prof Bernard Agulhas.

The University of the Free State’s (UFS) School of Accountancy in the Faculty of Economic and Management Sciences hosted its third annual Business Acumen Day and Panel Discussion on 12 August 2025, placing ethics, integrity, and public trust firmly under the spotlight.

Sponsored by audit, accounting and consulting firm Forvis Mazars South Africa, the day opened with a student-centred engagement in the Callie Human Centre, followed by a dynamic panel discussion with staff and stakeholders at the Centenary Complex. Both sessions tackled the theme ‘Restoring Public Trust: Ethical Leadership in an Era of Public Accountability’.

The panel featured former Chief Justice Raymond Zondo, whose decades in judicial service include leading the State Capture Commission; Prof Deon Rossouw, an internationally recognised authority on business ethics and corporate governance; and Rochelle Murugan, Head of Audit at Forvis Mazars South Africa and a leader in diversity and inclusion. The discussion was facilitated by Prof Bernard Agulhas, former CEO of the Independent Regulatory Board for Auditors and an influential figure in global standard-setting and corporate governance.

According to Prof Frans Prinsloo, Director of the School of Accountancy, the event’s timing was deliberate: “Given the erosion of public confidence in leadership and the ongoing reports of corruption and abuse of power, it is crucial to address ethical leadership and public trust head-on. Our profession has a responsibility to lead conversations that promote integrity, accountability, and responsible leadership. These events give our profession and students the opportunity to hear directly from leaders who have shaped the national dialogue on these issues.”

 

Building a culture of ethics

Earlier in the day, Justice Zondo spoke directly to students who are preparing for careers in accounting and auditing, emphasising the importance of integrity in sustaining the profession’s credibility. “Your job is a very important job, and ethical behaviour is the only way your profession is going to continue to be respected. You must never let your profession down. Remember, your integrity is priceless,” he said. He also identified features of ethical leadership – integrity, fairness, humility, accountability, and courage – as non-negotiables for those entering the profession.

In the panel discussion, Murugan stressed that “the tone at the top plays a massive role” in shaping ethical cultures. She said leaders have a responsibility to create environments where ethical leadership and accountability are built into performance measures and reward systems. “Speaking up should be something we expect, respect, and protect,” she said, adding that embedding ethical policies into daily processes ensures they become a natural part of everyday work.

Prof Rossouw built on this point, noting that ethical tone must extend beyond the top levels of leadership. “We often find that the tone at the top does not filter down through the rest of the organisation. We need the same commitment to ethics across all employees,” he said, adding that an ethical culture requires clear standards, open discussions about ethics, and accountability. “If you do the wrong thing, there must be consequences. Equally, if you do the right thing, there should be recognition for the role you play,” he said, explaining that this approach allows employees at all levels to see themselves as active participants in an organisation’s ethical life.

 

Ethics in action: From Parliament to the public

Justice Zondo contributed a legal and governance perspective, drawing on an example from his time overseeing parliamentary processes. He recounted how, during a motion of no confidence in then-president Jacob Zuma, members of the ruling party were instructed to vote against the motion or risk losing their parliamentary seats. “This illustrates how individuals sometimes compromise their ethics out of fear for their positions,” he said. “In the public sector, the system can work against ethics when decisions are taken in the interest of the organisation rather than the people it serves. This undermines the fight against corruption.”

He also outlined three ways citizens can play a role in strengthening public accountability: avoiding the election of leaders with histories of wrongdoing; remaining active and vocal in holding public representatives accountable; and supporting or joining organisations that fight corruption. “Remember, people in Parliament work for you, not the other way around,” he told the audience.

Prof Rossouw offered a conceptual distinction between ethics and values, clarifying that, although the two are related, they are not identical. “Ethics is about doing good unto others as you expect them to do unto you. Values, on the other hand, are our priorities or convictions about what is important – but not all values are ethical. Ethical values are those that guide how we treat other people and interact with them,” he explained, describing ethics as a subset of an organisation’s broader values.

Underscoring why this conversation matters for the profession and the country, Prof Prinsloo noted: “Accounting and auditing are cornerstones of public accountability. Ethical leadership ensures these functions are performed with integrity and transparency. In South Africa, where there have been significant breaches of trust, the intersection of these three elements is vital. Ethical accounting and auditing practices, guided by strong ethical leadership, are essential for ensuring that public resources are managed responsibly and that those in positions of power are held accountable. In the School of Accountancy, we aim to equip our students with the skills and ethical grounding to navigate these complexities and uphold the highest standards of public accountability.”

Hosting thought leaders such as Justice Zondo and Prof Rossouw, he added, is both “a privilege” and a signal of intent: “By providing a platform for these important conversations, we signal to our students, alumni, and the broader community that we are serious about shaping ethical leaders and promoting a culture of accountability.”

The third annual Business Acumen Day and Panel Discussion continues the School of Accountancy’s commitment to convening rigorous, topical dialogue across auditing, governance, sustainability, and ethics – a commitment Prof Prinsloo says will endure: “We will continue to host conversations that challenge conventional thinking, bring together diverse voices, and provide students and practitioners with tools to strengthen ethical cultures in their organisations.”

News Archive

Media: Sunday Times
2006-05-20

Sunday Times, 4 June 2006

True leadership may mean admitting disunity
 

In this edited extract from the inaugural King Moshoeshoe Memorial Lecture at the University of the Free State, Professor Njabulo S Ndebele explores the leadership challenges facing South Africa

RECENT events have created a sense that we are undergoing a serious crisis of leadership in our new democracy. An increasing number of highly intelligent, sensitive and committed South Africans, across class, racial and cultural spectrums, confess to feeling uncertain and vulnerable as never before since 1994.

When indomitable optimists confess to having a sense of things unhinging, the misery of anxiety spreads. We have the sense that events are spiralling out of control and that no one among the leadership of the country seems to have a definitive handle on things.

There can be nothing more debilitating than a generalised and undefined sense of anxiety in the body politic. It breeds conspiracies and fear.

There is an impression that a very complex society has developed, in the last few years, a rather simple, centralised governance mechanism in the hope that delivery can be better and more quickly driven. The complexity of governance then gets located within a single structure of authority rather than in the devolved structures envisaged in the Constitution, which should interact with one another continuously, and in response to their specific settings, to achieve defined goals. Collapse in a single structure of authority, because there is no robust backup, can be catastrophic.

The autonomy of devolved structures presents itself as an impediment only when visionary cohesion collapses. Where such cohesion is strong, the impediment is only illusory, particularly when it encourages healthy competition, for example, among the provinces, or where a province develops a character that is not necessarily autonomous politically but rather distinctive and a special source of regional pride. Such competition brings vibrancy to the country. It does not necessarily challenge the centre.

Devolved autonomy is vital in the interests of sustainable governance. The failure of various structures to actualise their constitutionally defined roles should not be attributed to the failure of the prescribed governance mechanism. It is too early to say that what we have has not worked. The only viable corrective will be in our ability to be robust in identifying the problems and dealing with them concertedly.

We have never had social cohesion in South Africa — certainly not since the Natives’ Land Act of 1913. What we definitely have had over the decades is a mobilising vision. Could it be that the mobilising vision, mistaken for social cohesion, is cracking under the weight of the reality and extent of social reconstruction, and that the legitimate framework for debating these problems is collapsing? If that is so, are we witnessing a cumulative failure of leadership?

I am making a descriptive rather than an evaluative inquiry. I do not believe that there is any single entity to be blamed. It is simply that we may be a country in search of another line of approach. What will it be?

I would like to suggest two avenues of approach — an inclusive model and a counter-intuitive model of leadership.

In an inclusive approach, leadership is exercised not only by those who have been put in some position of power to steer an organisation or institution. Leadership is what all of us do when we express, sincerely, our deepest feelings and thoughts; when we do our work, whatever it is, with passion and integrity.

Counter-intuitive leadership lies in the ability of leaders to read a problematic situation, assess probable outcomes and then recognise that those outcomes will only compound the problem. Genuine leadership, in this sense, requires going against probability in seeking unexpected outcomes. That’s what happened when we avoided a civil war and ended up with an “unexpected” democracy.

Right now, we may very well hear desperate calls for unity, when the counter-intuitive imperative would be to acknowledge disunity. A declaration of unity where it manifestly does not appear to exist will fail to reassure.

Many within the “broad alliance” might have the view that the mobilising vision of old may have transformed into a strategy of executive steering with a disposition towards an expectation of compliance. No matter how compelling the reasons for that tendency, it may be seen as part of a cumulative process in which popular notions of democratic governance are apparently undermined and devalued; and where public uncertainty in the midst of seeming crisis induces fear which could freeze public thinking at a time when more voices ought to be heard.

Could it be that part of the problem is that we are unable to deal with the notion of opposition? We are horrified that any of us could be seen to have become “the opposition”. The word has been demonised. In reality, it is time we began to anticipate the arrival of a moment when there is no longer a single, overwhelmingly dominant political force as is currently the case. Such is the course of history. The measure of the maturity of the current political environment will be in how it can create conditions that anticipate that moment rather than seek to prevent it. We see here once more the essential creativity of the counter-intuitive imperative.

This is the formidable challenge of a popular post-apartheid political movement. Can it conceptually anticipate a future when it is no longer overwhelmingly in control, in the form in which it is currently, and resist, counter-intuitively, the temptation to prevent such an eventuality? Successfully resisting such an option would enable its current vision and its ultimate legacy to our country to manifest in different articulations, which then contend for social influence. In this way, the vision never really dies; it simply evolves into higher, more complex forms of itself. Consider the metaphor of flying ants replicating the ant community by establishing new ones.

We may certainly experience the meaning of comradeship differently, where we will now have “comrades on the other side”.

Any political movement that imagines itself as a perpetual entity should look at the compelling evidence of history. Few movements have survived those defining moments when they should have been more elastic, and that because they were not, did not live to see the next day.

I believe we may have reached a moment not fundamentally different from the sobering, yet uplifting and vision-making, nation-building realities that led to Kempton Park in the early ’90s. The difference between then and now is that the black majority is not facing white compatriots across the negotiating table. Rather, it is facing itself: perhaps really for the first time since 1994. Could we apply to ourselves the same degree of inventiveness and rigorous negotiation we displayed leading up to the adoption or our Constitution?

This is not a time for repeating old platitudes. It is the time, once more, for vision.

In the total scheme of things, the outcome could be as disastrous as it could be formative and uplifting, setting in place the conditions for a true renaissance that could be sustained for generations to come.

Ndebele is Vice-Chancellor of the University of Cape Town and author of the novel The Cry of Winnie Mandela

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