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Broad-Based Black Economic Empowerment Act, 2003 (Act No. 53 of 2003)

Verification Manual

2. Scope of Application of this Manual

 

 

2.1 While there is no legal obligation for entities to subject themselves to BEE Status Evaluations in terms of B-BBEE Codes, it is important that those entities which do subject themselves to such evaluation by an accredited Verification Agency  receive a certain level of Standard of Service.

 

2.2 The Guidelines set in this manual are applicable as a minimum standard to which all Verification Agencies are obliged to conform in conducting verification assessments and evaluations. 4

 

2.3 The document was prepared in terms of the provisions of Section  10.1 of  Code Series 000 Statement 000 of the Broad-Based Black Economic Empowerment Codes of Good Practice issued in terms of Section 9(1) of B-BBEE Act 53 of 2003. This Manual incorporates the relevant provisions of SANAS R47 as amended, directly or by reference.

 

2.4 The table below, sets out the basis for identifying criteria  applicable  to  the measured entity, which are to be applied by a Verification Agency when providing assurance on the Scorecard Elements and B-BBEE Status:

 

The following Criteria should be taken into account in verification engagements:
• The Eligibility of an Exempted Micro-Enterprise
• The Eligibility as a Qualifying Small Enterprise
• Start-up Enterprises
• The elements of B-BBEE in terms of the Generic Scorecard
• Scorecards governing Sector Codes
• The Eligibility of Specialised Enterprises

 

Table 1

 

4 Issued in Notice 112 of 2007