1. Complying with Changes in Legislation
4/5/2019
Fasset Update
Complying with Changes in Legislation
September to October 2010 1

2. Scarce Skills 79% relate to professional occupations
4/5/2019
Scarce Skills
79% relate to professional occupations
Trainee accountants and auditors
Bookkeepers, accounting technicians, general accountants
Financial officers, SCM
Support staff in public sector
Internal auditors
Taxation practitioners (local and international)
Managers in finance and accounting

3. Scarce Skills Continued
4/5/2019
Scarce Skills Continued
General managers
Insurance agents
Business analysts
Data architects
Black managers with management experience
Skilled women and people with disabilities

4. Reasons for Scarce Skills
4/5/2019
Reasons for Scarce Skills
Low standard of South African school education
Shortage of black trainees and trainees with Honours
Shortage of trainees interested in auditing
High drop-out rate during training
Small firms can’t compete with larger firms for salaries

5. Shortages in the Economy
4/5/2019
Shortages in the Economy
Shortages of financial skills experienced in all sectors
Shortages are experienced in financial divisions in organisations in all sectors of the economy (SAICA study)
Shortages exist at the professional levels, and lower levels e.g. bookkeepers
Situation worse in the public sector

6. Fasset Grants Update Outgoing (2010/2011) Incoming (2011/2012)
Deadline
Mandatory Grant
30 June 2010*
30 June 2011
Learnership Cash Grant
31 March 2011
TBA
Strategic Cash Grant
SMME Grant
Assessor Moderator Grant
* or within 6 months of registration as a new firm

7. Learnership Cash Grant (LCG)
4/5/2019
Learnership Cash Grant (LCG)
For black and/or disabled learners on Fasset learnerships
Grant applicable to firms employing fewer than 150 people
Maximum of 10 grants per employer
Learners registered during 2010, apply on 31 March 2011
First-come first-served basis
Application per learner, no extensions, no query
Tax deductions for all learners, higher for people with disabilities

8. Strategic Cash Grant (SCG)
4/5/2019
Strategic Cash Grant (SCG)
Due 31 March 2011
Subject to capping – available budget
Change in criteria
White women acceptable for certain criteria
No extensions
MS Excel format required
2009/2010 finalised, R16 million approved applications, 81% payout rate (budget allocated was R13 million)

9. SCG Criteria 2010/2011 External bursaries
4/5/2019
SCG Criteria 2010/2011
External bursaries
Financial support (internal bursaries)
Quality-assured and structured workplace experience
Workplace experience
Learnerships
Adult Basic Education and Training (ABET)
National Standards for People Development

10. Pilot SMME Grant Due 31 March 2011
4/5/2019
Pilot SMME Grant
Due 31 March 2011
Based on need to support SMMEs who do not traditionally participate in learnerships
Amount will be limited to R11,000 per five employees employed in the SMME organisation
Size
Amount
1 – 5
R 11,000
6 – 10
R 22,000
11 – 15
R 33,000
16 – 20
R 44,000
21 – 25
R 55,000
26 – 30
R 66,000
31 – 35
R 77,000
36 – 40
R 88,000
41 – 45
R 99,000
45 – 49
R 110,000

11. Assessor and Moderator Grant
4/5/2019
Assessor and Moderator Grant
Reimburse cost of training, provided the assessor or moderator registers against a Fasset qualification
The assessor requires approval of registration from the relevant professional body
Due 31 March 2010

12. Free Lifelong Learning
Feb 10
Managing Change
Essential Office Etiquette
Mar 10
Budget and Tax Update (2010)
May 10
Role of SDF (2010)
Jul - Aug 10
Building and Maintaining a Team
Sep - Oct 10
Complying with Changes in Legislation
Nov 10
Return on Investment in Training
Feb 11
Assertiveness
Mar 11
Budget and Tax Update (2011)
Apr 11
Role of SDF (2011)
Attendance certificates available for download

13. 4/5/2019
Development Projects
To address the shortage of professionals in the sector
Funded workplace programmes includes soft skills, financial skills, technical and/or academic skills
Learners are black and/or people with a disability
70% placement minimum requirement
Employers may apply for the LCG for these learners

14. AGM and Annual Function
4/5/2019
AGM and Annual Function
Keynote address by Minister of Higher Education and Training Dr Blade Nzimande
Incorporating Fasset’s AGM, Best Practice Awards and Annual Thank You Function
Fasset is proud to be celebrating a decade of success
16 September 2010

15. Sector Skills Plan (SSP)
4/5/2019
Sector Skills Plan (SSP)
2011 to 2016
Contains demand and supply analysis
Reflects scarce skills
Comments received from sector integrated and tabled to Management Board in August
Submitted to DHET and awaiting feedback
Final NSDS III not yet released

16. Strategic Direction 2011/2012 Mandatory Grant Development Projects
4/5/2019
Strategic Direction 2011/2012
Mandatory Grant
Development Projects
Pivotal Grant
Research
SCG
Fasset Skills Advisors
LCG – entry
Impact of NSDS III
LCG – completion
SMME Grant
AMG
Lifelong Learning

17. Thank you Fasset Call Centre For more information please contact the
4/5/2019
Thank you
For more information please contact the
Fasset Call Centre on
or visit