B-BBEE Verification Services

Elevating your business to the next level

B-BBEE Verification Services

WHAT DO WE DO?

BDO Verification Services is a SANAS accredited verification agency. We conduct audits of a company’s contributions and issue a report and certificate confirming the level of achievement against each target.

We also offer:

  • B-BBEE training
  • Scorecard monitoring
  • Target Report
  • Supplier analysis
  • Consulting (where we are not also the verification agency)
  • SED Reports
  • Ownership reports and verification
  • Private Equity Fund verifications


OUR B-BBEE SERVICES

VERIFICATION 
We conduct a thorough audit of an entity’s B-BBEE scorecard to verify their contributions and/or performance in each of the 5 elements. This is much the same concept as an auditor auditing your financial statements, however with a different set of measurement criteria and rules. A certificate is the final product of this process.  

TRAINING 
Our technical experts around the country provide regular public training courses on which you can book a seat. Where there are a number of delegates requiring training, we can tailor in-house training programmes to suit your needs as a more affordable and targeted solution.
 
SCORECARD COMPILATION  
We can compile a preliminary B-BBEE scorecard in preparation for verification or as part of one of our other services. 

SCENARIO PLANNING 
Using your current scorecard as a benchmark or a year-to-date analysis, we can plot gaps in terms of where you are and where you would like to be and suggest various scenarios for you to achieve this.  

CONSULTING AND STRATEGY PLANNING 
Our senior technical team can assist in defining specific strategies and helping you to implement these in your business in order to increase your scoring, keeping in mind return on investment. 
Consulting must occur separately to verification, and we may not verify your scorecard for four years after we complete our consulting obligations to you, as we  must remain impartial. 

SUPPLIER ANALYSIS 
Assessing your suppliers in order to establish the overall B-BBEE procurement recognition benefit you can achieve from the procurement element can  maximise your score. The process includes contacting suppliers, collection of certificates and calculation of procurement flow through recognition.

SEVEN REASONS TO COMPLY WITH B-BBEE

SEVEN REASONS TO COMPLY WITH B-BBEE

A COMPANY’S COMPLIANCE AND STATUS IS MEASURED IN TERMS OF THE FOLLOWING FIVE ELEMENTS: 
 

  1. Ownership What percentage share do black people hold in the business?
  2. Management Control What percentage of your management structure is occupied by black people?
  3. Skills Development
  4. Enterprise and supplier development
              a. How do your suppliers’ BEE ratings impact on yours?
              b. How are you developing your black-owned supply chain through value-adding initiatives?
              c. How are you developing other black-owned enterprises through value-adding initiatives?
 5. Socio Economic Development
 6.          a.  How are you aiding access to the economy for the black community
 

VERIFICATION PROCESS 
VERIFICATION PROCESS
 
BEE RECOGNITION AND LEVELS 

BEE RECOGNITION AND LEVELS />

B-BBEE CATEGORIES 

Your business falls into one of these three categories:
 

  • Exempted Micro-Enterprise (EME) Has an annual turnover of R10 million or below An automatic Level 4 (100%) contributor status is achieved (need to complete a sworn affidavit – download here ). Enhanced recognition of Level 1 (135%) if 100% black owned or Level 2 (125%) if 51% or more black owned. 
  • Qualifying Small Enterprise (QSE) Has an annual turnover between R10 and R50 million. The entity will need to score on all 5 elements. Enhanced recognition of Level 1 (135%) if 100% black owned or Level 2 (125%) if 51% or more black owned. 
  • Generic Enterprise Has an annual turnover above R50 million. The entity will be scored on all 5 elements.


THE ROLE OF A VERIFICATION AGENCY IN ISSUING A CERTIFICATE

Verification agencies play much the same role in the auditing of your BEE credentials as financial auditors do in the auditing of your financial information. For example, submission of financials with a profit declaration will be audited to prove that this declaration is correct or incorrect. 
B-BBEE verification agencies audit your B-BBEE performance and contributions, proving that the claim you have made regarding your contributions is correct or incorrect. 

Who can issue certificates? Verification agencies must be accredited by the South African National Accreditation System (SANAS). Our SANAS accreditation, allows us to issue a complete assurance certificate, based on the rigorous verification procedures undertaken.

COMPLAINTS & APPEAL PROCEDURE

The Complaints and Appeals procedure cater to any of our clients who wish to appeal the outcome of a BEE verification rating or lodge a complaint relating to BEE verification activities that fall under our responsibility.


BDO B-BBEE Verification Services