MD’s new approach to B-BBEE

The Independent Regulatory Board for Auditors’ (IRBA) has withdrawn from the Regulation of the Broad-Based Black Economic Empowerment (B-BBEE) verification industry with effect from 30 September 2016.

A transitional period of three (3) months to 31 December 2016 has been granted for the sign off of verification certificates for B-BBEE verification engagements that have been entered into by IRBA registered BEE auditors prior to 30 September 2016.

This means that we will no longer be issuing B-BBEE certificates after 31 December 2016 and we are only permitted to sign the certificates to that date of the current engagements that we have not yet completed.

However, this does not affect the Affidavits that we commission for Exempt Micro Enterprises (EME’s) and black owned Qualifying Small Enterprises (QSE’s).

It does however present us with an exciting opportunity to assist you in our role as your B-BBEE verification consultant to achieve the best possible rating. This consulting service is not allowed to be provided by the SANAS verification agencies who will now be signing all B-BBEE certificates so you will need us more than ever!

We have also formed an alliance with the only 100% black owned verification agency owned by Anthony Hartman of Mindwalk. Anthony has a BA LLB from UCT and is himself a SANAS assessor. Details of his agency can be found at www.mindwalk.co.za. So in our role as your B-BBEE consultant, we can continue to assist you with the collation of all the information to perform the verification engagements and Anthony will attend to the verification requirements and certificate. The Amended Codes require much more detailed planning and documentation and we are now able to hold your hand through the process to achieve the best possible rating for your company.

And don’t forget to take advantage of our other BEE value offerings that include:

• Regular newsletter and blog updates of what you need to know to ensure that BEE works for your business
• Free updates on new developments and trends that provide you with planning opportunities for your business
• Free assistance with leveraging your B-BBEE status as a competitive advantage in the market.
• Access to our Supplier database to save you time collating your supplier scorecards
• Telephonic support and guidance from our qualified specialists for all your BEE queries
• Training of your staff through the verification process
• B-BBEE Awareness and Training
• B-BBEE Assessments and Scenario Developments to determine what you need to do to comply or better your score. We develop various scenarios and strategies to determine the best empowerment roadmap for successful transformation.
•  Professional advisory service on B-BBEE and technical support through the implementation of B-BBEE plans.
• Provide comprehensive empowerment analyses that not only address the overall empowerment status of the organisation, but also focuses on where your risks and opportunities lie.

We look forward to assisting you further to achieve an even more competitive advantage with the B-BBEE success in your company.