Measurement of Elements – An Important Reminder
Your verification is typically based on the measurement period which is the period of your financial year under review.
The following elements of your Scorecard are based on your last Annual Financial Statements that are subject to verification:
1) Skills Development: the actual spend during the financial period
2) Preferential Procurement
3) Enterprise Development
4) Socio-Economic Development
However, the Ownership, Management and Employment Equity elements are verified on the date of the site visit during verification and not at the end of the financial year. Therefore the measurement period could be 1 March 2011 to 28 February 2012, but the verification and site visit is only conducted in November 2012. Consequently, the Ownership, Management and Employment Equity elements would only be measured based on the position at November 2012.
All material subject to our Legal Disclaimers.