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January 13, 2012

Major shock in the BEE industry

On 6th January 2012, EMEX, the South Africa's largest BEE rating agency filed for liquidation. The implication is that thousands of companies will have to appoint a new verification agency or registered auditor to do their rating.

Bad news for some
Those companies that were busy with their BEE rating (and had paid their deposit) will have to find another rating agency to take over their verification from scratch. This will not only mean financial loss but also delays in getting their BEE certificate. This could mean lost tenders, contracts or withheld payments.

To fast track a BEE rating - BEEXchange can prepare a rating ready audit file, negotiate a preferential place in the verification queue and manage the on-site audit to ensure maximum score.

Please note:

BEEXchange has worked with all the major rating agencies and understands their requirements. Through our long standing relationships we are able to  secure the most efficient BEE rating for you..
 
Good news for others
There is good news in that certain IRBA registered auditors will be able to issue BEE certificates within the next few days.  Hundreds of Chartered Accountants and BEE professionals have now completed the UNISA BEE course and the final assignment results are currently being released.  Those auditors can request registration from IRBA to issue BEE Certificates.  We understand that the first few have now been processed and are just about ready to go. 

Please note:

BEEXchange knows which of the IRBA registered auditors will be able to provide BEE verification. We are able to provide consulting support to the clients of IRBA registered auditors.

If you are affected by the liquidation of EMEX
Please contact BEEXchange. We will assist you to identify the most suitable rating agency and help to negotiate a preferential place in the rating queue. We will fast track your BEE audit file preparation and manage the on-site audit to ensure the best possible score.

Regards

The BEEXChange Team

Office    086 112 4668
Email  celeste@beexchange.co.za
Web  www.beexchange.co.za

Posted by StaffWriter at January 13, 2012 7:58 AM