FASSETFASSETThe Seta for finance, accounting and related The Seta for finance, accounting and related

disciplinesdisciplines

Presentation to the Portfolio Committee on Labour Presentation to the Portfolio Committee on Labour October 2005October 2005

OVERVIEW OF PRESENTATIONOVERVIEW OF PRESENTATION

Sector profileSector profile

Seta profileSeta profile

NSDS 1 achievementsNSDS 1 achievements

Financial information and audit resultsFinancial information and audit results

ChallengesChallenges

QuestionsQuestions

SECTOR PROFILESECTOR PROFILE

SUBSECTORSUBSECTOR No. of No. of organisationsorganisations

Employment Employment

Accounting, tax & Accounting, tax & auditing servicesauditing services

3201 (44%)3201 (44%) 44 646 (42%)44 646 (42%)

Investment entities Investment entities & trusts& trusts

1436 (20%)1436 (20%) 16 129 (15%)16 129 (15%)

StockbrokingStockbroking 913 (13%)913 (13%) 13 315 (13%)13 315 (13%)

SARS & SARS & government government departmentsdepartments

4 (1%)4 (1%) 13 898 (13%)13 898 (13%)

Management Management consultingconsulting

405 (6%)405 (6%) 8 939 (8%)8 939 (8%)

OtherOther 1255 (16%)1255 (16%) 8 931 (8%)8 931 (8%)

TOTALTOTAL 7214 (100%)7214 (100%) 105 858 (100%)105 858 (100%)

SECTOR PROFILESECTOR PROFILE

SIZESIZE ORGANISATIONSORGANISATIONS EMPLOYEESEMPLOYEES

Over 150Over 150 1%1% 48%48%

Between 50 and 150Between 50 and 150 2%2% 13%13%

Between 10 and 50Between 10 and 50 15%15% 17%17%

Between 1 and 10Between 1 and 10 82%82% 21%21%

SETA PROFILE SETA PROFILE

STAFF COMPLIMENTSTAFF COMPLIMENT 20 staff members20 staff members 70% Black, 30% White70% Black, 30% White 95% Female, 5% Male, 5% Disabled95% Female, 5% Male, 5% Disabled

OCCUPATIONAL LEVELSOCCUPATIONAL LEVELS Senior managersSenior managers 11 ProfessionalsProfessionals 66 Skilled TechnicalSkilled Technical 77 ClerksClerks 44 Elementary workersElementary workers 22

COMMUNICATION AND CONTACT COMMUNICATION AND CONTACT PROFILEPROFILE

Permanent office based in JohannesburgPermanent office based in Johannesburg

Main communication medium websiteMain communication medium website

Visit each province at least 4 times annualVisit each province at least 4 times annual

Use of Fasset Skills AdvisorsUse of Fasset Skills Advisors

Links through professional bodies in regionsLinks through professional bodies in regions

Links through associations in regionsLinks through associations in regions

Links through projects in regionsLinks through projects in regions

NSDS 1 ACHIEVEMENTSNSDS 1 ACHIEVEMENTS

INDICATORINDICATOR FASSET FASSET TARGETTARGET

FASSET FASSET ACHIEVEMENTACHIEVEMENT

1.1 (NQF 1)1.1 (NQF 1) 85%85% 97%97%

1.2 (Structured learning) 1.2 (Structured learning)

25%25% 78%78%

1.3 (IIP)1.3 (IIP) 20 firms20 firms 22 firms (3 22 firms (3 achieved)achieved)

2.1 (Large firm participation)2.1 (Large firm participation) 85%85% 90%90%

2.2 (Medium firm participation)2.2 (Medium firm participation) 40%40% 56%56%

2.3 (Learnerships)2.3 (Learnerships) 1818 2222

3.1 (SMME participation)3.1 (SMME participation) 20%20% 36%36%

5.1 (No. of learners)5.1 (No. of learners) 30003000 1886118861

FINANCIAL INFORMATIONFINANCIAL INFORMATION

AMOUNT (millions)AMOUNT (millions)

SDL incomeSDL income R113,5R113,5

Total revenueTotal revenue R156,7R156,7

Total expenditureTotal expenditure R145,3R145,3

Expenses as a % of SDL incomeExpenses as a % of SDL income 128%128%

Total cash and cash equivalentsTotal cash and cash equivalents R109,5R109,5

Net surplusNet surplus R11,4R11,4

Grants payableGrants payable R44,3R44,3

Admin expensesAdmin expenses R10,1R10,1

AUDIT RESULTSAUDIT RESULTS

Unqualified audit reportUnqualified audit report

Commitment to good corporate governanceCommitment to good corporate governance

Support extending the audit to include performance Support extending the audit to include performance auditaudit

Appreciate the value added by the Auditor GeneralAppreciate the value added by the Auditor General

PROJECTS AND DISCRETIONARY PROJECTS AND DISCRETIONARY GRANTSGRANTS

3 TYPES3 TYPES

Social projectsSocial projects e.g. GTH, Scimathuse.g. GTH, Scimathus

Discretionary grantsDiscretionary grants e.g. Learnership, SCGe.g. Learnership, SCG

Direct interventionsDirect interventions e.g. ABET and CPEe.g. ABET and CPE

All aligned to critical skills needs or strategic imperativesAll aligned to critical skills needs or strategic imperatives

Duration ½ day to 3 yearsDuration ½ day to 3 years

Placement and sustainability key drivers when approvingPlacement and sustainability key drivers when approving

Linked to race, gender and disability targetsLinked to race, gender and disability targets

Importance of life-long learningImportance of life-long learning

CHALLENGESCHALLENGES

Impact of the R500 000 SMME levy exemption on SMME Impact of the R500 000 SMME levy exemption on SMME participation and assistanceparticipation and assistance

4 500 of the 7 200 companies in Fasset will be exempt4 500 of the 7 200 companies in Fasset will be exempt

6.5% of levy income will be lost6.5% of levy income will be lost

Profile of the sector can only change slowly (7 to 10 years)Profile of the sector can only change slowly (7 to 10 years)

Uncertainty regarding the continuation of the learnership tax Uncertainty regarding the continuation of the learnership tax deductiondeduction

Uncertainty regarding the impact of the changes made to the Uncertainty regarding the impact of the changes made to the Funding Regulations Funding Regulations

THANK YOUTHANK YOU

QUESTIONS?QUESTIONS?

Presentation to the Portfolio Committee on Labour Presentation to the Portfolio Committee on Labour October 2005October 2005