Fasset Update Complying with Changes in Legislation September

Fasset Update Complying with Changes in Legislation September to October 2010 1

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 2

Scarce Skills Continued • General managers • Insurance agents • Business analysts • Data architects • Black managers with management experience • Skilled women and people with disabilities 3

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 4

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 5

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 31 March 2011 TBA SMME Grant 31 March 2011 TBA Assessor Moderator Grant 31 March 2011 TBA * or within 6 months of registration as a new firm 6

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 7

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, R 16 million approved applications, 81% payout rate (budget allocated was R 13 million) 8

SCG Criteria 2010/2011 1. External bursaries 2. Financial support (internal bursaries) 3. Quality-assured and structured workplace experience 4. Workplace experience 5. Learnerships 6. Adult Basic Education and Training (ABET) 7. National Standards for People Development 9

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 R 11, 000 per five employees employed in the SMME organisation 10 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

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 11

Free Lifelong Learning Feb 10 Managing Change Feb 10 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 12

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 13

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 14

Sector Skills Plan (SSP) • 2011 to 2016 • Contains demand 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 15

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 16

Thank you For more information please contact the Fasset Call Centre on 086 101 0001 or visit www. fasset. org. za 17