Page 14 - Fasset_AR_2023_E

FASSET | Annual Integrated Report 2022/23

4. FASSET APPROACH TO INTEGRATED REPORTING

Scope Approval

This Annual Integrated Report (AIR) provides a The Audit and Risk Committee (ARC) has reviewed
strategic, operational and financial overview of the this AIR (including the full AFS) and recommended
activities of the FAS Sector Education and Training these to the Accounting Authority for approval. The
Authority (FASSET) for the period 1 April 2022 to Accounting Authority has applied its oversight role
31 March 2023. to the AIR and believes that it addresses all material
issues, and fairly presents the integrated performance
Reporting framework of the SETA. The 2022/23 AIR was approved by the
AA.
The report is compiled in compliance with:
• The Public Finance Management Act, Act 1 of
1999 (PFMA);
• The Companies Act, Act 71 of 2008;
• Standards of Generally Recognised Accounting
Practice (GRAP); and
• Skills Development Act, Act 97 of 1998
(Amended).
The content of the report also takes into consideration:

• The National Treasury Annual Report Guide
for Schedule 3A and 3C Public Entities 2022;
and
• The King IV Report on Corporate Governance
for South Africa, 2016 (King IV).

Assurance

The AA is satisfied with the integrity of the report and
the level of assurance applied. The sector education
and training authority’s (SETA’s) consolidated Annual
Financial Statements (AFS) have been Audited by the
independent external Auditor, the AGSA. The AGSA’s
unqualified report can be found on pages 104 to
108.

The Audited AFS presented in this AIR were prepared
in accordance with GRAP issued by the Accounting
Standards Board and in accordance with the Skills
Development Act (SDA), Act 97 of 1998 and the
Skills Development Levy Act (SDLA) 1999, Act 9 of
1999, as amended). The AA is satisfied with the level
of assurance on the AIR.

Accounting Authority responsibility: The AA
acknowledges its responsibility to ensure the integrity
of the AIR and believes that the report addresses all
material issues and fairly presents the performance
and impact of FASSET.

Make the future count.
6 |