Prepare for BEE Verification – EconoBEE Newsletter – 5 May 2009
“Verification” means the process and activities conducted by a verification agency to assess, verify and validate that the score awarded to a Measured Entity is as a result of individual scorecard elements supplied by a Measured Entity, and to evaluate BEE transactions in order to provide an indicative B-BBEE score and Certification based on principles of the Broad-Based BEE Codes of Good Practice.
In theory a BEE Verification is a simple task. Go to a verification agency, fill in the questionnaire and then you have a verified BEE score or certificate.
Lets look at a practical example
You decide to get a BEE Verification because your customers ask you for one. You phone around and find a verification agency who will do the work. They send you a questionnaire, you fill it in and send it back. You collect all the info they asked for in the questionnaire, they come in to “audit” your documentation and you get your verification. Once complete you receive your BEE Verification certificate and it shows that you have earned 5.3 points and therefore are non-compliant.
Ownership – 0
You then give your newly acquired BEE Verification to your client and they say to you “this is worthless to us”.
What went wrong
It is important to note that a BEE verification is a long “journey” that takes time to prepare. As a result, a number of factors can affect your BEE verification.
The goal of a verification is to assure your clients that the score you have achieved is correct! However your score is worthless if you do not have enough points.
“BEE Verification Conference – Prepare for BEE Verification”
It is extremely difficult to do well on your BEE scorecard if you are not well prepared. Prepare yourself, earn the points and save money by implementing BEE the EconoBEE way.
Register now or you will miss out on an excellent opportunity.
Keith and the EconoBEE Team