Finally, some 13 months after the release of the amended BEE codes, the much anticipated amended BBBEE Verification Manual has been released by the DTi.
The 93 page document provides verification agencies with the methodology and evidence requirements in conducting a BEE verification on the amended B-BBEE codes of good practice.
B-BBEE Comprehensive Guidelines
The Verification Manual provides comprehensive guidelines on the authentication and substantiation of B-BBEE reporting.
It expands on the minimum norms and standards on the ethical conduct and procedures to be employed in ensuring the verification of the B-BBEE Codes of Good Practice.
We are available to discuss this and any other related B-BBBEE queries, contact us for more information.
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The DTI have stated that charters that have not completed their new BEE codes will be required to conform to the new DTI codes as of the 31st of October 2015.
Trying to navigate your business through the B-BBEE process can be a daunting task. With this in mind, East Coast BEE have come up with the following tips.
B-BBEE Implementation Tips
Make sure that your B-BBEE Consultant has the experience to get your company to the desired B-BBEE Level.
Remember that what you specialize in is your main focus, and its often best to leave your B-BBEE in the hands of a professional company.
The Five Pillars
Create a B-BBEE File and divide it into the 5 pillars:
- Management Control
- Skills Development
- Preferential Procurement
- Socio-Economic Development
Remember to keep an active file of all evidence pertaining to B-BBEE so that it is available at the B-BBEE Audit.
Do monthly checks on evidence collected, B-BBEE payments made and that your Company Statuary Documentation is in order.
Be in contact with your B-BBEE Consultant on a regular basis so that the correct implementation can be followed.
By following these B-BBEE implementation tips, and with the right B-BBEE consultant on your side, the process can be a lot less daunting.
If you would like to find out more, Contact Us at East Coast BEE for a consultation on how best to proceed.
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