Twins and third year Accounting students Mr Steffen and Mr Rudolph Wies, with colleague Mr Mahomed Osman, made UKZN proud when they finished fourth in the CFO Case Study Competition in Johannesburg.
The CFO (Chief Financial Officer) competition is an international, annual multi-round business management case study contest.
The competition is organised by the CharterQuest Institute and CharterCapital Advisory TeamSA - a committee of Chartered Institute of Management Accountants (CIMA) and Association of Chartered Certified Accountants (ACCA) students at the Institute who have global case study competition experience - and South Africa’s Barclays-sponsored CIMA2015 Global Business Challenge Champions (GBC).
The team, who made it to the semi-finals in the face of 1 278 entrants from 53 universities in 25 countries throughout the world, said being part of the competition had been a life-changing experience.
‘The CFO Case Study Competition has given me new perspective on my studies and future career,’ said Mr Steffen Wies. ‘It has provided me with fantastic networking opportunities, by introducing me to business students from all around the world and CFOs of top South African companies. The competition also helped me get valuable skills.’
Although they did not win the competition, making it to the top 6 under the mentorship of Financial Lecturer Ms Salma Vanker had been a teaching and learning experience the team is still savouring.
‘The competition has taught me how to operate under pressure,’ said Steffen. ‘Having to answer questions from the board illustrated how important it is to be able to think logically under pressure. I have also picked up on valuable report writing skills as well as how important it is to quantify any recommendation you make.’
He encouraged fellow Accounting students to take part in the competition and broaden their horizons.
The competition gives practical context to the work studied at university as it simulates real life challenges faced by directors of companies. As a bonus, you are given an opportunity to meet people who are in business and willing to share their expertise with you.
‘If you want to see how everything comes together in one holistic practical example, the opportunity lies here,’ said Osman.