Fasset is the Finance and Accounting Services Sector Education and Training Authority. The finance and accounting services sector is particularly important because it is the largest employer of people with financial management, accounting, and auditing skills. In 2018 more than 168 000 people worked in the sector.
The demarcation and definition of this sector differs in the different data sources available, as well as in different environments. In the national accounts and in employment surveys conducted by Statistics South Africa (such as the Labour Force Survey (LFS)) the sector includes real estate activities and an array of other business services such as labour brokerages, information technology services, legal services, and engineering and architectural services.
The Financial and Accounting Services Sector refers to the organisations served by Fasset. This sector includes: investment entities and trusts and company secretary services; stockbroking and financial markets; financial development organisations; accounting, bookkeeping, auditing and tax services; business and management consulting services; the South African Revenue Service; the national and provincial treasuries; and other activities auxiliary to financial intermediation, such as debt collection.