According to Granville Smith, Higher Education Sector Lead at KPMG South Africa, "If we do not heed the lessons from the past, that education is a fundamental and critical aspect of our daily lives that we must get right, we will fail current and future generations of South Africans."
"South Africa has set aside R26.2 billion for transfers to universities in the 2015/2016 year," said KPMG Director and Higher Education Conference Lead Farzanah Mall. "The importance of safeguarding and protecting the assets of universities is critical to ensure universities achieve their mandates."
Global audit firm KPMG joined forces with the Higher Education Internal Audit and Forensic Audit (HEIAFA), a sub-committee of the Finance Executives Forum of HESA to host an interactive higher education conference on 16 March, attended by industry leaders and experts in governance and finance from over 23 public higher education institutions across the country.
The purpose of the conference was to address how institutions can optimise their governance mechanisms and safeguard the assets of universities to ensure that universities can deliver on their mandates of providing good quality education and research.
Amid globally challenging business and university environments and with increased competition, the conference focused on key risks faced by universities, how to enhance the control environments and prevent and detect fraud at universities, as well as the impact of technology on the administration of universities. The conference also covered how South African universities can leverage technology for the betterment of teaching and learning.
The esteemed presenters included: Smith, Olga Granova-Mooi (Head of Internal Audit: University of Pretoria), Shamit Govind (KPMG Director), Raniel Misra (Auditor General), Dr Steven Briers (KPMG Director), Ranesh Sivnarain (UKZN Head of Forensics) and Candice Padayachee (KPMG Associate Director).
Experts further provided insightful discussions related to the impact of the education system on society. In addition, the conference showcased innovation, generated debate, and provided a platform for support of good governance.
Ranesh Sivnarain, Chairperson of HEIAFA, said, "The importance of higher education as well as its need will never fade. This is why it is necessary to engage and provide a platform for dialogue which not only informs but also addresses the challenges faced in the higher education sector. We as a forum are excited to have partnered with KPMG and are pleased with the successful outcome of this conference and the value that our universities have derived from it. We strive to continue this partnership with KPMG and make this annual conference even more informative and successful in the future."
Serving more than 70% of South African universities, KPMG is committed to education in South Africa and is passionate in terms of driving programs and events that promote economic and social upliftment. The aim of the gathering was undoubtedly the sharing of knowledge between universities, key experts, and regulatory bodies.
The conference concluded with a powerful panel discussion on challenges and solutions in the higher education sector facilitated by KPMG Director, Farzanah Mall who tackled various current and important matters in education. The influential, experienced panelists included Prof Enrico Uliana (CFO of UCT), Nomboniso Maqubela (Audit Committee Chairman, University of Fort Hare), Prof Brian O'Connell (Former Rector, University of Western Cape) and Prof Ahmed Bawa (Vice Chancellor Durban University of Technology).
Prof Enrico Uliana highlighted the importance of having clear university policies, with no ambiguity and that universities must take action on all fraud related matters to ensure that potential perpetrators know there is repercussion for fraud.
Maqubela, focused on the increasing reporting regulations in higher education, that there needed to be clear accountability between Council, Senate and other key oversight committees, and that internal audit functions at universities should be elevated to be strategic partners to support executive management.
Prof Bawa highlighted "the importance of South Africa to create its 'own' knowledge and innovation. To be leaders in the research space is critical for the future of our society. Universities exist to produce high quality human resources and to take our rich indigenous knowledge into the world".
Prof O'Connell said, "You would expect the passion for education to be everywhere. South Africa should take full ownership of our future, we should commit to change quickly and we need a National discourse on why education matters. Despite the fact that you are not wealthy, you must believe you can do great things."
All the panelists and speakers were in agreement regarding the importance of maths and science to the future of South Africa.
