Finance and Accounting Services Sector Education and Training Authority (Fasset)

Contact Details

Physical: Building 3, Ground Floor, 299 Pendoring Road, Blackheath, Randburg
Postal: PO Box 6801, Cresta, 2118
Tel: 011 476 8570
Fax: 011 476 5756


The mission of the Finance and Accounting Services Sector Education and Training Authority (Fasset) is to increase the flow of new finance and accountancy entrants into employment; develop and grow the skills required in the sector; and facilitate transformation of the finance and accountancy sector.

The objectives of Fasset are to: develop the competence of employees and potential employees; increase the levels of investment in education and training and optimise the return on this investment; position this sector as the ‘sector of career choice' for prospective learners and entrants into the labour market; encourage employers and employees to adopt a culture of lifelong learning; support the objectives of the Employment Equity Act of 1998; enhance access to learning opportunities and facilitate the recognition of prior learning; ensure the quality of education and training in the sector; expand the provision of education and training in this sector through sound partnerships with public and private sector service providers; encourage greater cooperation between the public and private sectors; and cooperate with the South African Qualifications Authority and other SETAs, in support of the objectives of the Act.

Office Bearers/Management

Chief Executive Officer
Ms C James

Board Members:
Mr Shahied Daniels
Ms Amanda Dempsey
Mr Sathie Gounden
Ms Kate Hlongwane
Ms Corné Karsten
Mr Mauwane Kotane
Ms Shirley Machaba
Mr Bongani Mathibela
Mr Stadi Mngomezulu
Ms Mopo Mushwana
Chief Executive Officer:
Ms Cheryl James
Senior Management:
Ms Lauren Derman (Director: Research)
Ms Natercia Faustino (Director: Processing and Quality Assurance)
Ms Lesego Lebuso (Chief Operations Officer)
Ms Tania Lee (Director: Projects)
Ms Bomkazi Mnombeli (Operations Manager)
Ms Gugu Moetanalo (Company Secretary)
Communications Officers:
Ms Zandile Skosana (Communications Manager)

Financial Information

All Financial Values: R'0002015/162014/152013/142012/13
AUDIT OUTCOMEClean AuditClean AuditClean AuditClean Audit
Current Assets279 040220 193186 582254 648
Non-Current Assets608684937937
Total Assets279 648220 877187 519255 585
Current Liabilities43 96537 24122 57676 978
Non-Current Liabilities----
Total Liabilities43 96537 24122 57676 978
Total Net Assets235 683183 636164 943178 607
Total Revenue466 037429 432432 038363 920
Revenue from Exchange Transactions16 67916 93412 72110 858
Revenue from Non-Exchange Transactions449 358412 498419 317353 062
Total Expenditure(413 988)(410 739)(445 704)(309 679)
Employee Costs(17 282)(14 048)(12 316)(10 568)
Surplus/(Deficit) for Year52 04718 693(13 664)54 211
Net Cash Flows from Operating Activities60 63232 388(67 889)69 722
Net Cash Flows from Investing Activities(381)(154)(370)(204)
Cash & Cash Equivalents at End of Year276 729216 478184 244252 503
Unauthorised Expenditure----
Irregular Expenditure---32
Fruitless & Wasteful Expenditure---221
Posts Approvedn/an/an/an/a
Posts Filledn/an/an/an/a
SourcesAnnual ReportAnnual ReportAnnual Report n/a

Overseeing Department/Entity

Annual Reports

The information in this directory is supplied and/or externally sourced and is also subject to continual change. If you notice any errors or omissions, please contact us at so that we can correct them.
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