2016 2017 - inseta.org.za

1 ANNUALREPORT20162017 Working together for a skilled tomorrow37 Empire Road, Ground Floor, Parktown, JohannesburgP O Box 32035 Braamfontein 2017 Tel: 011 381 8900 INSETA CALL CENTRE: 086 113 0013 Email: : 978-0-621-45515-11 INSETA ANNUAL REPORT 2016/2017 Dr B E Nzimande Sandra Dunn Minister of Higher Education and Training INSETA Chief Executive Officer HONOURABLE MINISTERIt is with pleasure that we present to you the annual report of the Insurance Sector Education and Training Authority (INSETA) for the period 1 April 2016 to 31 March : 978-0-621-45515-12 INSETA ANNUAL REPORT 2016/2017 ContentsPART A: General List of Abbreviations and Acronyms.

2 62. Strategic Overview ..8 Purpose ..8 Vision ..8 Values ..83. Strategic Outcome-Oriented Goals ..84. Legislative and Other Mandates ..85. Organisational Structure ..106. Foreword by the Chairperson ..137. Chief Executive Officer s Review ..16 PART B: Performance Information ..201. Statement of Responsibility of Performance Information ..22 for the Year Ended 31 March 20172. Auditor s Report: Predetermined Objectives ..223. Situational Analysis .. Service Delivery Environment .. Organisational Environment ..233 INSETA ANNUAL REPORT 2016 Key Policy Developments and Legislative Changes.

3 Strategic Outcome-Oriented Goals .. Strategy to Overcome Areas of Underperformance .. Changes to Planned Targets ..254. Summary of Financial Information .. Revenue Highlights ..40 PART C: Governance ..421. Report of the Accounting Authority ..462. Corporate Governance ..463. Parliamentary Portfolio Committees ..524. Executive Authority ..525. Compliance with Laws And Regulations ..526. Minimising Conflict of Interest ..527. Code of Conduct ..528. Fraud and Corruption ..529 . Health, Safety and Environmental Issues ..5210. Audit and Risk Committee Report to the Inseta Board.

4 53 for the Year Ended 31 March 2017 PART D: Human Resource E: Financial Information ..66 4 INSETA ANNUAL REPORT 2016/2017PA RT A 5 INSETA ANNUAL REPORT 2016/2017 General Information6 INSETA ANNUAL REPORT 2016/2017 General InformationREGISTERED NAME: Insurance Sector Education and Training AuthorityPHYSICAL ADDRESS: Ground Floor, 37 Empire Road, Parktown, JohannesburgPOSTAL ADDRESS: P O Box 32035 Braamfontein 2017 TELEPHONE NUMBERS: (011) 381 8900 EMAIL ADDRESS: ADDRESS: AUDITORS: Auditor General South AfricaINTERNAL AUDITORS: PricewaterhouseCoopers (PWC)BANKERS.

5 NedbankAbbreviations and AcronymsAGSAA uditor-General of South AfricaAPPA nnual Performance PlanB-BBEEB road-based Black Economic EmpowermentCBOC ommunity-based organisationCEOC hief Executive OfficerCFOC hief Financial OfficerDHETD epartment of Higher Education and TrainingETQAE ducation and Training Quality Assurance FAISF inancial, Advisory and Intermediary Services FSBF inancial Services BoardGIZD eutsche Gesellschaft f r Internationale ZusammenarbeitHEIH igher education institutionHRHuman ResourcesHRDSAH uman Resource Development Strategy for South Africa INSETAI nsurance Sector Education and Training AuthorityICTI nformation and Communication TechnologyITInformation TechnologyMBAM aster in Business Administration7 INSETA ANNUAL REPORT 2016/2017 MoAMemorandum of AgreementMTSFM edium-term Strategic FrameworkNDPN ational Development PlanNGONon-governmental organisationNGPNew Growth PathNQFN ational

6 Qualifications FrameworkNSAN ational Skills AccordNSDSN ational Skills Development StrategyOFOO rganising Framework for Occupations PFMAP ublic Finance Management ActPIVOTALP rofessional, vocational, technical and academic learning QCTOQ uality Council for Trades and OccupationsRERegulatory ExaminationRPLR ecognition of prior learningSAICAS outh African Institute of Chartered AccountantsSARSS outh African Revenue ServiceSAQAS outh African Qualifications AuthoritySCMS upply Chain ManagementSDAS kills Development ActSDLAS kills Development Levies ActSETAS ector Education and Training AuthoritySLAS ervice Level AgreementSMES mall and micro enterpriseSMMES mall.

7 Medium and micro enterpriseSSPS ector Skills PlanTVETT echnical and vocational education and trainingUASAThe UnionWILWork-integrated learningWSPW orkplace Skills Plan8 INSETA ANNUAL REPORT 2016/20172. Strategic Overview Purpose INSETA s purpose is to grow the pool and quality of scarce and critical skills in the insurance sector, enhancing the sector and supporting the country s skilled and capable insurance and related services workforceValuesPartner to enable others Form strategic partnerships Be an employer of choice Consult and collaborate with stakeholdersLead with vision Develop contemporary solutions to guide the industry Listen, learn.

8 Influence and shapeDeliver quality Results for real impact Value for investmentTouch lives Mak e a difference Leave an enduring legacyInspire trust Transparent Reliable and consistent Accountable3. Strategic Outcome-Oriented Goals INSETA set the following strategic goals for 2016/17: Strategic Goal 1: A credible institutional mechanism for skills planning in the sector Strategic Goal 2: Increased access to occupationally directed programmes Strategic Goal 3: Encouraging better use of workplace-based skills development Strategic Goal 4: Encouraging and supporting cooperatives, small enterprises, worker-initiated, non-governmental organisation (NGO) and community training initiatives Strategic Goal 5: Building career and vocational guidance Strategic Goal 6.

9 Promoting the growth of a public technical and vocational education and training (TVET) sector college system that is responsive to sector, local, regional and national skills needs and priorities4. Legislative and other MandatesINSETA is a Schedule 3A public entity in terms of the Public Finance Management Act (PFMA) and must execute its mandate in accordance with the Skills Development Act (SDA), the Skills Development Levies Act (SDLA), the PFMA, the INSETA Constitution and any other legislation that relates to the governance of sector education and training authorities (SETAs).

10 9 INSETA ANNUAL REPORT 2016/2017 The table below represents the Acts and other mandate documents that predominantly direct and influence INSETA in skills MANDATE DOCUMENTSPURPOSE OF THE ACT/OTHER MANDATESINSETA Constitution Provides an institutional framework for INSETA to develop and implement national, sector and workplace strategies to develop and improve the skills of the South African of 1998 (as amended) Provides an institutional framework to develop and implement national, sector and workplace strategies to improve the skills of the South African workplace. PFMA of 1999 (as amended) Seeks to regulate financial management and corporate governance in the national government and provincial of 1999 Provides for the imposition of the skills development levy and related Financial Advisory and Intermediary Services (FAIS) Act of 2002 Sets out the fit and proper requirements for financial services providers.