Why Do I Need A B-BBEE Certificate?
A legitimate BEE verification certificate enables a company to be recognised for its BEE status with the confidence that its status is accurate and verified. The certificate effectively allows an entity to apply for Government tenders as well be recognised as preferred supplier on Public company databases. Private entities are incentivised to conduct business with B-BBEE compliant suppliers through point scoring on their own B-BBEE scorecard.
What Is A B-BBEE Verification?
A B-BBEE verification is an independent audit procedure which is required to be carried out by a SANAS accredited verification agency. The verification agency will review an entity's B-BBEE evidence in line with the B-BBEE legislation and award points based on the evidence provided.
How Long Does The Verification Process Take To Complete?
Preparation is key. A well prepared entity with a fully completed portfolio of evidence file will proceed through the process quickly and effortlessly. An ill prepared company will find the process too long and laborious.
How Often Should A B-BBEE Audit Be Undertaken?
A B-BBEE certificate is valid for 12 months from date of issue, therefore an audit would be required once a year. However, if there is a change within an entity which is beneficial interms of B-BBEE, then the company may elect to undertake a re-evaluation to reflect the change.
What Is The Difference Between Verification And Consultation?
B-BBEE verification is an independent audit procedure which is conducted by a SANAS accredited verification agency. The verification agency will review an entity's B-BBEE evidence in line with the B-BBEE legislation and award points based on the evidence provided. Due to impartiality requirements a verification agency may not provide consulting and then conduct a B-BBEE Audit.
B-BBEE Consulting is a service provided by a consultant who will assist an entity to develop and implement a B-BBEE strategy, the result of which is an improved B-BBEE status and recognition.
What Is Fronting?
An entity, mechanism or structure established to circumvent Black Economic Empowerment eg. creation of an entity which has no capability (staff or assets) merely to provide a good BEE level, use of non-executive directorship as “hollow” appointments purely for compliance purposes, splitting a company into smaller entities to fall into EME or QSE categories, and so forth. Fronting is now a criminal offence with harsh penalties.
Who Qualifies As Black Designated Groups?
Black Designated Groups include the following:
✔ Unemployed black people not attending and not required by law to attend an educational institution ,and not awaiting admission to an educational institution;
✔ Black people who are youth as defined in the National Youth Commission Act of 1996;
✔ Black people who are persons with disabilities as defined in the Code of Good Practice on employment of people with disabilities issued under the Employment Equity Act;
✔ Black people living in rural and underdeveloped areas;
✔ Black military veterans who qualify to be called a military veteran in terms of the Military Veterans Act 18 of 2011.
010 880 4420