FASSET The Seta for finance, accounting and related disciplines Presentation to the Portfolio Committee on Labour October 2005

OVERVIEW OF PRESENTATION  Sector profile  Seta profile  NSDS 1 achievements  Financial information and audit results  Challenges  Questions

SECTOR PROFILE SUBSECTOR No. of organisations Employment Accounting, tax & auditing services 3201 (44%) (42%) Investment entities & trusts 1436 (20%) (15%) Stockbroking 913 (13%) (13%) SARS & government departments 4 (1%) (13%) Management consulting 405 (6%) (8%) Other 1255 (16%) (8%) TOTAL 7214 (100%) (100%)

SECTOR PROFILE SIZEORGANISATIONSEMPLOYEES Over 150 1%48% Between 50 and 150 2%13% Between 10 and 50 15%17% Between 1 and 10 82%21%

SETA PROFILE STAFF COMPLIMENT  20 staff members  70% Black, 30% White  95% Female, 5% Male, 5% Disabled OCCUPATIONAL LEVELS  Senior managers1  Professionals6  Skilled Technical7  Clerks4  Elementary workers2

COMMUNICATION AND CONTACT PROFILE  Permanent office based in Johannesburg  Main communication medium website  Visit each province at least 4 times annual  Use of Fasset Skills Advisors  Links through professional bodies in regions  Links through associations in regions  Links through projects in regions

NSDS 1 ACHIEVEMENTS INDICATOR FASSET TARGET FASSET ACHIEVEMENT 1.1 (NQF 1) 85%97% 1.2 (Structured learning) 25%78% 1.3 (IIP) 20 firms 22 firms (3 achieved) 2.1 (Large firm participation) 85%90% 2.2 (Medium firm participation) 40%56% 2.3 (Learnerships) (SMME participation) 20%36% 5.1 (No. of learners)

FINANCIAL INFORMATION AMOUNT (millions) SDL income R113,5 Total revenue R156,7 Total expenditure R145,3 Expenses as a % of SDL income 128% Total cash and cash equivalents R109,5 Net surplus R11,4 Grants payable R44,3 Admin expenses R10,1

AUDIT RESULTS  Unqualified audit report  Commitment to good corporate governance  Support extending the audit to include performance audit  Appreciate the value added by the Auditor General

PROJECTS AND DISCRETIONARY GRANTS  3 TYPES  Social projectse.g. GTH, Scimathus  Discretionary grantse.g. Learnership, SCG  Direct interventionse.g. ABET and CPE  All aligned to critical skills needs or strategic imperatives  Duration ½ day to 3 years  Placement and sustainability key drivers when approving  Linked to race, gender and disability targets  Importance of life-long learning

CHALLENGES  Impact of the R SMME levy exemption on SMME participation and assistance  of the companies in Fasset will be exempt  6.5% of levy income will be lost  Profile of the sector can only change slowly (7 to 10 years)  Uncertainty regarding the continuation of the learnership tax deduction  Uncertainty regarding the impact of the changes made to the Funding Regulations

THANK YOU QUESTIONS? Presentation to the Portfolio Committee on Labour October 2005