Amended B-BBEE Codes implementation date clarified by DTI

We advise that the statement of clarification issued by the DTI on 8th July 2014 confirmed that the implementation date of the Amended Codes of Good Practice is 1 May 2015. Therefore, all scorecards issued on or after this date will have to be prepared using the Amended Codes, even if the verification engagement letter is signed before 30 April 2015.

If you would like a final verification performed during the period 1 January 2015 – 30 April 2015 using the current Codes of Good Practice and current Sector Codes, kindly contact us as soon as possible to schedule and confirm a date for your verification. Given that April is typically less working days due to all the Public Holidays, it will be even more critical to plan your verification early to ensure that we can still sign your scorecard before 30 April 2015.

Kindly note that this verification may be performed using unaudited management accounts for a twelve month calendar period. However, we would be required to perform further verification checks to ensure the reasonableness of the financial information required for the engagement.

Do not leave your planning too late to maximise your B-BBEE ratings using the current Codes!!!

For further information please see our B-BBEE blog at www.mdbee.co.za.

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