BANKSETA ANNUAL REPORT 2023

deviations

Reason for

1.5.4 An unqualified audit is achieved Unqualified audit Unqualified audit Unqualified audit Qualified Audit Qualified audit due to accruals incorrectly

Not applicable Not applicable

<10 8.4% <10.5% 8.81 Not applicable The BANKSETA has maintained

effective internal

controls to control

administration costs

within the regulated limit.

Not applicable Not applicable

97.89 96% 97.7 1.7 Annual information

sessions and one- on-one support to employers

ensures increased submission of

WSPs so that the

Mandatory Grants can be claimed

reflected in the

Annual Financial Statements

2022/23

Deviation from

planned target to

actual achievement

Actual

achievement 2022/23

The Board approved a three (3) year ICT strategy and an annual ICT

implementation plan

Procurement plan in

compliance with NT

prescripts submitted on time

Planned target 2022/23

Not applicable Not applicable Board approved three (3) year

ICT strategy and an annual ICT

implementation plan

Submit procurement plan on time that is

in compliance with NT prescripts

Audited actual performance 2021/22

Procurement plan

that is in compliance with NT and DHET

prescripts submitted

Audited actual performance 2020/21

Procurement plan

that is in compliance with NT and DHET 100% of

prescripts submitted

Discretionary grant

payment processed

97% of Mandatory grant processed

Annual Performance Report for the Period 1 April 2022 to 31 March 2023 Outcome Output Output indicator Approval of ICT strategy and annual ICT implementation plan 1.4.1 Approved ICT strategy and annual ICT implementation plan Control administration costs within the regulated limit 1.5.1 Administration costs controlled within the regulated limit of less than 10.5% of levies income or approval sought to exceed threshold Accounting Authority approval of the procurement plan for submission to DHET and NT 1.5.2 Submitted procurement plan on time that is in compliance with NT prescripts Processing/payment of mandatory grants and discretionary grants in line with the Accounting 1.5.3 Percentage of mandatory grants claimed

Authority approved process and regulations

100% adherence

to approved audit

processes, quality documents are

submitted and the

set timelines are met in order to inculcate culture compliance

for unqualified audit

An efficient and

effective SETA

that complies with

legislation, policy

and good corporate governance principles

An efficient and

effective SETA

that complies with

legislation, policy

and good corporate governance principles

1.4 ICT support

1.5 Financial management and reporting

35

BANKSETA ANNUAL REPORT 2022/23