The Speech Sound Pics (SSP) approach emphasizes the need for effective reading instruction by focusing on phonemic awareness, phonics, fluency, vocabulary knowledge, and comprehension. By utilizing visual aids and systematic teaching methods, students can decode words and improve their reading abilities independently, regardless of their socioeconomic background. The assessment process is continuous and tailored to individual levels, allowing teachers to track progress without standardized assessments, ultimately preparing students for successful reading by Year 3.