B3 E2 | EXTRAORDINARY CLAIMS REQUIRE EXTRAORDINARY EVIDENCE

BEE ACADEMY / 08 JULY 2021 - 06.55 / POOVAN GOVENDER

Issue 24 of 2021 | BEE Chamber members newsletter brought to you by TFM Magazine

There is a high level of dependency on B-BBEE Rating Agencies to process evidence accurately, ethically, and competently at the time of a B-BBEE Verification. However, what may muddy the waters and compromise a B-BBEE Verification is a financial agreement based on a referral between a B-BBEE Rating Agency and a third-party, which the SANAS R47-03 document addresses.

Therefore, an organisation must ensure that they independently choose their B-BBEE Rating Agency based on their credentials and capability and not the value of the third-party referral fee.

As a practical tool, this communique provides BEE Chamber members with critical information to drive and accurately calculate their B-BBEE scorecard and manage the risk of Fronting Practice **.

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Please register here to attend the monthly BEE Chamber TFM Webinar series on the first Tuesday of each month between 09H00 and 11H00. This interactive and informative session reviews the application of technical articles covered in the newsletters over the last month.

Register for the FREE Monthly TFM Webinar : 03 August 2021

The focus of this week's topics is on

* Evidence to support an Enterprise Development Loan;

* Confirming job creation;

* Calls for Employment Equity amendments to be expedited; and

* An article of Transforming Interest |The Employment Equity Amendment Bill.

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