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April 8, 2011
Verification Turbulence Affects felt country wide
The BBBEE verification industry has come under serious fire this past week when it emerged that certain verification agencies had been issuing BEE verification certificates using the incorrect scorecard. SANAS has been forced into action and has demanded the offending agencies to immediately withdraw their BEE Certificates.
EconoBEE began investigating this form of BEE fronting some months back when it
discovered a correlation between agencies participating in this devious activity
and the fact that they had not yet been issued an extension of scope to verify
against those sector codes.
Industry bodies within the Construction, Forestry, Tourism and Transport
sectors decided to create their own respective BEE Sector codes; and these now
need to be followed. "The intention of a sector specific code is to
ensure the rate of transformation in the sector rapidly increases and the
industry benefits as a result. However, if the verification agencies -
the very companies intended to ensure compliance is measured fairly - do not
use the sector codes they are wasting the industry bodies' and
taxpayers' money; and worse; they are slowing down the rate of
transformation," says Chief of Operations at EconoBEE, Gavin Levenstein.
Levenstein adds; "Furthermore, these activities hurt the verification
agencies who have taken the time and effort to study the sector codes and apply
for the extension of scope needed to issue scorecards for those sectors."
A sector code is binding on all businesses or organisations operating within a
respective industry. The verification agency does not have the right to choose
which scorecard to follow; especially since SANAS has now categorically
confirmed that only the applicable scorecard is valid.
"We are pleased that SANAS has taken action and hope to see all companies
affected by this rather unfortunate occurrence produce a valid BEE certificate
using the correct BEE sector code;" concludes Levenstein.
If your scorecard has been produced using the incorrect sector codes, contact EconoBEE to help you convert your scorecard into the correct BEE sector scorecard. Call them on 011 483 1190 or email info@econobee.co.za; alternatively visit their website www.econobee.co.za.
Ends.
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Issued By: |
The Lime Envelope |
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On Behalf Of: |
EconoBEE |
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For Media Information: |
Angelique Meyer |
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Telephone: |
011 704 7770 |
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E-mail: |
Posted by StaffWriter at April 8, 2011 7:51 AM