FASSET ANNUAL REPORT

Material issue s

Risk and potential impact Ability to attract and retain appropriate skills (human capital, and intellectual capital)

Managing the risk

Section and page reference

The sector does not transform and does not meet the country’s demographic profile

We use discretionary funding to support African Black and Coloured learners, a need having being identified for skills in these demographic groups We rely on our employees’ knowledge and training to fulfill our mandate. The education and training policy ensures that staff are upskilled and capacitated to deliver against our strategic objectives A stakeholder engagement plan is in place and being implemented

Facilitating transformation in

Operating context on page 19, Research on page 31 and Learner Interventions on pages 39 to 41. FASSET organogram on page 26 and Part D on page 74

Ability to attract and retain appropriate skills (human capital, and intellectual capital)

Lack of requisite skills, knowledge, competence, experience or intellectual capital to deliver on our mandate

Effective stakeholder engagement

This could negatively impact our social license to operate and misallocation of resources

Servicing our stakeholders page 30 to 33

LEGISLATIVE ANDOTHER MANDATES

South Africa has an abundance of legislation, as lawmakers seek to provide citizens with guidance and protection across the spectrum of life experiences. The SETA environment is particularly legislation-driven, with its Four-Act foundation comprising the SDA, SDLA, NQF and PFMA. During the period under review, the Disaster Management Act prevailed, and the SETA had to adjust its operational efforts to align to the Act and other applicable health and safety regulations. Our scope of coverage is the finance and accounting services sector as determined by Section 9(2) of the SDA read in conjunction with Government Gazette No 33756, RG 9417, No R1055 of 11 November 2010. As a public entity listed in Part A of Schedule 3 of the PFMA, FASSET is established in accordance with Section 9 of the SDA having all the powers granted to it in terms of the Act.

The SDA and SDLA provide the framework for us to develop and implement national, sectoral and workplace strategies to develop and improve the skills of the workforce, which improves employability and productivity, and boosts the competitiveness of the country. The PFMA promotes sound financial management based on efficient and effective use of financial resources. The National Qualifications Framework (NQF), Act 67 of 2008, provides for the regulation of qualifications and professional bodies, and establishes the quality councils with which we interact. Our overarching guiding document is our SETA-standard Constitution. Also crucial to our strategy are important sector-specific transformative documents such as the Financial Sector Charter and the Chartered Accountancy Charter.

FASSET Annual Integrated Report 2020/21

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