As South Africa’s first black chartered accountant, Professor Wiseman Nkuhlu has pioneered the way for many, many others to succeed in life. We give him a standing ovation for what he’s achieved and remain inspired by his remarkable and unique style of leadership. He is a man who always knew he was born for a greater purpose in life and set out to achieve it. And he did, and continues to do so, recently publishing his third book, Purposeful Leadership.
Professor Nkuhlu insists otherwise, however, stating that it is thanks to the profession that he has been afforded opportunities that have been nothing short of life changing.
As the country’s first black chartered accountant, Professor Nkuhlu has faced a number of testing challenges. ‘I kept going through it all because I was driven by principles that had been engrained in my childhood,’ he says. Raised in a Christian family, Professor Nkuhlu’s firm belief in the concept of servant leadership was first sparked through his studies of the Bible, which also led to his strong sense that he had a bigger role to play: ‘I came to appreciate that my life was not just about my personal interests, but the contribution I could make to the greater good.’
This certainty that his life must be one of purpose deepened through his student days, when he first got involved in the liberation struggle. ‘Knowing this helped me set clear goals, and this in turn gave me fortitude.
‘I learned early on that every one of us is on a journey,’ Professor Nkuhlu continues. ‘We are forever learning and growing – that process never comes to an end. We need to grapple with the meaning of our role and purpose at every stage of our lives and find a way to best prepare for it. We can never stand still – our search for understanding why we were born requires all our skills and talents and must never cease.’
This, Professor Nkuhlu maintains, is the secret to good leadership: it’s the determination to play your part to the very best of your ability, then trying to do even better. ‘Before we can lead others, we need to be able to lead ourselves, and doing this means being able to keep the commitments and promises we make to ourselves. That is the essence of integrity, and the beginning of the independence that is required so that when you are tested – as you inevitably will be – you have faith in the strength of your own values and are not swayed by external influences.’
Learning from leaders
Professor Nkuhlu says that there have been many role models who helped to inform this philosophy, starting with his parents. Their hard work instilled discipline and dedication, and a habit of self-reliance. It was also while he was in the family fold that Professor Nkuhlu developed the habit of never giving less than his best and aiming for excellence.
Former E&Y partner Roy Andersen was another great influence, especially when the two worked together − first at SAICA and then at the Institute of Directors, where they strove to professionalise directorships. Reuel Khoza and Mervyn King are also cited as ‘great models’.
Highlights and milestones
The lessons imparted by these people have been put to good use in a career that started in the 1970s. ‘I have been fortunate to have participated in many great events since then,’ Professor Nkuhlu says.
Among these were the opportunity to establish a Department of Accounting at the University of Fort Hare (previously the University of Transkei) which, he says, gave him the chance to meet talented young people and play a role in their growth. He feels especially honoured to have been a part of the journey of individuals like Nonkululeko Gobodo, South Africa’s first black female CA.
Another highlight was the invitation to join SAICA’s board in 1996 and, two years later, become its president. ‘This allowed me to work for the organisation of my profession and to have a small influence on its direction. I was also privileged to work alongside great people like Chantyl Mulder and Kenneth Mockler. It was during my presidency that we conducted a search for a new CEO. This led us to Ignatius Sehoole, the organisation’s first non-white chief executive. Under his leadership, SAICA introduced Thuthuka and mainstreamed the question of the representation of blacks in the profession.’
Professor Nkuhlu’s influence spread beyond South Africa’s borders when, in 2009 (at the height of the global financial crisis), he was asked to join the advisory body appointed by industry standard-setting organisations IFRS (International Accounting Standards) and its US counterpart, the International Accounting Standards Board (IASB) to investigate whether accounting standards had contributed to the crisis. Professor Nkuhlu says that working alongside exceptional leaders, he learned a lot about the role of professionalism and deepened his understanding of society’s expectations of the profession.
He was later invited to become a trustee of the IFRS Foundation, which oversees the development of IFRS Standards. ‘As a CA, it was truly an honour to be able to be responsible for setting standards, rather than simply implementing them.’
Where were the auditors?
The flipside of opportunity is, of course challenge – and Professor Nkuhlu has come across many of these, too.
Perhaps most significant, he says, was being called to answer when the profession was criticised for failing to blow the whistle when financial institutions were taking risks. ‘People asked where the auditors were. As a member of a team appointed to question whether these allegations were fair, I started thinking deeply about the role CAs play in society. Until this time, people had looked to us, confident that the financial reports we produced were true and fair and never suspecting that our behaviour might be driven by commercial imperatives. I felt that the public was justified in its belief that the auditors who can be trusted are those who discount their personal interest.’
This has led Professor Nkuhlu to a belief of his own, which is that the prevailing perceptions of the profession should be challenged. Traditionally, he says, people have been drawn to the profession because of its association with prestige and affluence. ‘We emphasise this aspect, without drawing attention to the pride which is part of the profession – the fact that we work to serve the public interest.’
Meanwhile, he is encouraged to note that the profession has taken significant steps to rectify its position, moving from a stance of denial to accepting that, in the face of numerous corporate failures, it cannot turn a blind eye to corruption. Taking responsibility, resetting its focus on the reason for its existence and turning attention to company culture is making a big difference, and this is bolstered by the work done by bodies like the International Federation of Accountants (IFAC) to strengthen guidance for auditors and tightening quality controls, ethics and governance. At the same time, there are clear steps to be followed for companies that fail to comply with these new standards. ‘I’m very proud of the steps taken thus far. Of course, humans being human, there will still be some renegades – but I believe that there will be fewer in future, and that the profession will respond appropriately.’
Towards purposeful leadership
One of the most effective ways to prepare the profession for the future is by preparing tomorrow’s leaders, Professor Nkuhlu says, referring again to the sense of pride which he maintains should be an innate part of the job. ‘There should be a strong sense of satisfaction in being recognised as a professional who abides with integrity.’
As a proponent of servant leadership, this is something he is keenly aware of in his own life. ‘I feel that I have a duty to serve the public; it’s the rent paid in return for being protected by law, and receiving an education that developed my potential.’
Instilling a similar ethos among future leaders is key because it means they will be motivated by purpose and the joy of making a contribution rather than trying to get as much out of the system as possible. It requires reorienting leaders and embracing a view of leadership as a vehicle for purpose, rather than gain – but it can be done, as he explains in his most recent book, Purposeful Leadership, which will be released later this year. (This is in fact Professor Nkuhlu’s third book: the other titles are Enabler or Victim: KPMP and State Capture and his biography, A Life of Purpose.)
A clear path ahead
Professor Nkuhlu is confident that the profession is now following a clearer path. ‘I’ve observed that these cases of rampant corporate failures, where defective audits have come into play, tend to come in phases: in 2001, we saw the fall of Enron, and the resulting pressure placed on the US auditing profession gave rise to far-reaching reforms. For some time we were happy that we had learned our lesson, and then came the financial crisis, with the same questions being asked of auditors.’
The key now, Professor Nkuhlu says, is to build resilience in the reforms that have since been introduced, so that complacency is not allowed to take root. So long as auditors remain sceptical and have courage to ask the difficult questions of their clients, they will be fulfilling their duty to society and protecting us against another wave of corporate failures.
Author Lisa Witepski | Photographer Theana Breugem
