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Exceed meets new requirements for verification practitioners

01 Nov 2011

Tenk LoubserThe amended Codes of Good Practice for Broad-Based Black Economic Empowerment (BBBEE) became effective on 1 October 2011, as did Exceed’s new division, Exceed BEE Verification Practitioners.

In terms of the amended Codes of Good Practice applicable to the Broad-Based Black Economic Empowerment Act (Act no 53 of 2003), valid BBBEE status level certificates may now 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 BEE policy, as well as valid and accurate measurement of BBBEE, a relevant Management Development Programme (MDP) has been developed. This Programme will be offered by the Universities of South Africa and the Witwatersrand.

Registered auditors who want to apply to the IRBA for registration as BEE verification practitioners, have to meet exacting standards. They must:

  1. be in good standing with the IRBA.

  2. meet the requirements for education and practical experience in order to engage in public practice.

  3. comply with the IRBA’s Code of Conduct, Standards of Quality Control, Assurance Standards and any relevant Code of Conduct.

  4. have completed training in BBBEE verification services at a Higher Educational Institution, presently being the Universities of South Africa and the Witwatersrand.

  5. comply with the relevant verification manual, gazette notes and any guidelines issued by the Department of Trade and Industry.

  6. demonstrate transformation and be rated as a contributor in terms of the Codes of Good Practice.

As part of its mission to provide integrated, specialised and professional services to clients, the Exceed Group formed a dedicated division, Exceed BEE Verification Practitioners. The division, which became effective on 1 October 2011, is being managed by Jaco Odendaal and Tenk Loubser.

For more information, contact Jaco Odendaal on tel. 021 882 8140 or e-mail jaco@exceed.co.za or Tenk Loubser on tel. 021 808 7220 or e-mail tenk@exceed.co.za


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