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The Codes of Good Practice published on 9 February 2007 in terms of the Broad-Based Black Economic Empowerment Act no 53 of 2003 (as Amended by Act 46 of 2013) was Amended on 11 October 2013 in terms of Government Gazette No. 36928 and became effective on 1 May 2015. In terms of the Amended Codes of Good Practice, valid B-BBEE certificates can still be issued by verification agencies accredited by:

  • South African National Accreditation System (SANAS)
  • The Independent Regulatory Board of Auditors (IRBA)
  • Any other body authorised by the Minister to undertake accreditation of verification agencies.

To ensure consistent application and interpretation of the BEE policy that would lead to valid and accurate measurement of B-BBEE, a B-BBEE Management Development Program (MDP) was developed. The programs will be offered by the University of South Africa and the University of the Witwatersrand.

In terms of this amendments, IRBA it is now also approved as a Regulatory Body that is authorised to register its members (or their firms) as BEE verification agents. Registered auditors who want to apply for registration as BEE verification practitioners, have to meet the following requirements:

  • Be in good standing with IRBA. Have completed the educational requirements and practical experience in order to engage in public practice in the profession.
  • Comply its prescribed Code of Conduct, Standards of Quality Control, Assurance Standards and any relevant Code of Conduct.
  • Have completed training in B-BBEE verification services offered by a Higher Educational Institution (presently the University of South Africa and the University of the Witwatersrand).
  • Comply with the relevant verification manual, gazette notes and any guidelines issued by the Department of Trade and Industry.
  • Demonstrate transformation in the registered firm and rated as a contributor as determined by the Codes.

As part of its mission to provide integrated specialised professional services to clients, a separate division was formed by the Exceed Group under the name of Exceed Verification Agency (Pty) Ltd. The division became effective on 1 October 2011 and is under the management of Jaco Odendaal and San-Reece Roelf.

Jaco Odendaal

Jaco Odendaal qualified as a chartered accountant in 2003 after completing his articles at Pricewaterhouse Coopers. He was appointed as audit manager at Tenk Loubser Incorporated and subsequently promoted to audit partner.

Since July 2010, Jaco has been involved as an executive director in a related group company, Exceed Tax and Management Services, where he focuses on business consulting and related tax consulting. He is a member of the South African Institute of Chartered Accountants as well as the Independent Regulatory Board of Auditors.

Jaco has obtained various degrees and diploma’s, namely a Hons. B. Accounting from the University of Stellenbosch, a Post-graduate Diploma in Advanced Auditing from UCT and a Post-graduate Diploma in Value Added Taxation.

For more information on BEE verification, contact Jaco Odendaal or San-Reece Roelf at 021 882 8140.

Email: or


Tel: +27 (0) 87 985 0935

London, UK

Tel: +44 (0) 1784 439 955

Somerset West

Tel: +27 (0) 21 852 0382/4

Cape Town

Tel: +27 (0) 21 915 6666


Tel: +27 (0) 21 872 7118