12 August 2008
The Department of Trade and Industry (DTI) has gazetted a manual that provides guidelines and standards for measuring compliance with South Africa’s black economic empowerment (BEE) codes of good practice.
The DTI said in a statement last week that the manual aimed to set “acceptable minimum standards of ethical conduct underpinning the responsibility of verification agencies when performing verification and reporting on the [BEE] scorecard.”
The manual also outlines the procedures to be followed in providing assurance on whether the requirements of the country’s BEE codes of good practice have been met.
“The manual … will go a long way to increasing the authentication and substantiation of broad-based black economic empowerment reporting,” the department said.
It would also “make a substantial contribution to changing the way the business of broad-based black economic empowerment verification is done, and [to] instilling a sense of accountability in respect of industry-governed norms and standards.”
The broad-based black economic empowerment verification manual is available at the Department of Trade and Industry offices in Pretoria as well as on the DTI website.
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