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FASSET | Annual Integrated Report 2022/23

The SSP for the Financial Year 2023/2024 provides education level, thereby increasing the pipeline to
vital knowledge for the FASSET Board to grab the feed into the FAS sector.
bull by its horns and make decisions concerning the
allocation of funding and interventions needed to Organisational Environment
meet both sectoral and national priorities. In addition,
the Sectoral Priority Occupations and Interventions FASSET has shown significant performance in the
skills list was generated in order to better cluster Financial Year under review. This has been realised
industry requirements through the Workplace Skills due to the dedication of FASSET staff and support
Plan (WSP) and Annual Training Report (ATR) and of the AA Committees. Despite the notable changes
endorsed by the FASSET Board. The Sectoral Priority in staff that were necessitated by resignations and
Occupations list includes the following according to suspensions, FASSET has not lost stability and focus.
2023/2024 SSP: In instances where positions vacated were critical,
1. External Auditor the executive management expedited the recruitment
process to ensure that such positions do not stay
2. Management Consultant unfilled for the longest time.
3. Accountant in practice
FASSET remains very focussed and it has capable
4. Finance Manager staff that understand their roles in achievement of its
5. Financial Accountant overall mission. In the Financial Year under review,
various programmes have been implemented to
6. Tax Professional capacitate FASSET staff and to ensure employees they
7. Financial Investment Advisor stay motivated. The programmes implemented include
amongst others the continuing of staff academic
8. Internal Auditor funding, short-term training aligned to individual staff
9. Software Developer needs and hosting a Wellness Day event.
10. Compliance Officer FASSET is mindful of all these challenges and we
have over the past two Financial Years started to
Impediments for Skills Planning implement a Mathematics, Accounting and English
programme for high-school pupils. The role of this
The FASSET sub-sectors are not immune to problems programme is to address inefficiencies at basic
affecting skills planning as the exposer to global education level, thereby increasing the pipeline to
trade guarantees consistency changes. The COVID feed into the FAS sector.
19 pandemic came about during the time when
South Africa was still grappling with the challenges
brought by the Fourth Industrial Revolution. Summary of Sector Employment Profile

South Africa has particularly unique problem that In the 2021/2022 period, the Black demographic
makes coping with 4IR even more complex, this (Black African, Coloured, Indian/Asian) together
problem relates to poor performance in Mathematics, occupied 71% of the jobs in the sector. Black African
Science and Arithmetic. The Progress in International people occupied 52% of jobs in the sector, while
Reading Literacy Study (PIRLS) 2021 study showed the White population occupied 27% of the jobs in
that 81% of South African Grade 4 pupils, across the sector. African Black people occupied 59% of
all 11 official languages, cannot read for meaning. managerial positions, 46% of professional positions
This is the biggest problem as it is an underlying and 57% of technical positions, which could be
reason for poor comprehension of pupils at basic considered as a note of positivity pertaining to
education level. The consequence of this is the very transformation in the sector. The sector comprises of
limited number of candidates who qualify to study 102 662 employees compared to a previous of
Accounting and Finance programmes at tertiary 172 387 which is a cause for concern for the SETA.
education level. The workforce in the sector is dominated by females
with 57% occupying positions in the sector. The
FASSET is mindful of all these challenges and we youth (35 years and younger) occupied 47% of the
have over the past two Financial Years started to workforce which can be a step in the right direction.
implement a Mathematics, Accounting and English
programme for high-school pupils. The role of this
programme is to address inefficiencies at basic

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