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

Industry Charters

Chartered Accountancy Charter

Section C From Theory to Practice: The Scorecard

13. The QSE Scorecard for the CA Sector

13.2 Application of the CA Sector QSE Scorecard

13.2.2 The QSE Management Control Scorecard

 

The Management Control Element measures the effective control of an enterprise by Black People. The measurement takes place through indicator Weightings which are as follows:

 

QSE Management Control indicator

Weighting points

Compliance Target for 2016

Code

CA sector

Black representation at Top Management level

25

25

50,1%

Bonus points

Black women representation at Top Management Level

2

2

25%

 

• For purposes of the CA sector, indicator Weightings have the following definitions:

 

• The Measurement principles for this Element are the same as those for Statement 200, but with only two indicators.

 

• Top Management means Employees of a Measured Entity who serve on the board, undertake day-to-day management, have overall responsibility for the overall financial management and are actively involved in developing and implementing the overall strategy of the Measured Entity.

 

• The definition of Top Management should be understood to include only Black People at a Top Management level without regard to their ownership status in the QSE. Ownership for QSEs is measured independently of Top Management.

 

• A Measured Entity must use the same data used in its returns filed with the Department of Labour under the EE Act, in calculating its score under the Management Control scorecard. This will not apply where such a Measured Entity is exempt from filing such returns.

 

Calculation of Management indicators

 

 

C  is limited to a maximum of 50% the Target

 

Where      A      =      score for the measured Management indicator

                   B      =      Adjusted recognition for gender calculated as per paragraph 13.2

                   C      =      Target for that measurement category

                   D      =      Weighting for measured indicator

 

Bonus points

 

Two bonus points can be earned by a QSE in the CA sector if black women are represented at the Top Management level.