B-BBEE FOR EME’S

BBBEE

 

 

NOTICE:AMENDMENTS TO THE  THE BROAD-BASED BLACK ECONOMIC EMPOWERMENT ACT(53/2003) GOVERNMENT GAZETTE NO:36928, ISSUED 11 OCTOBER 2013 AND MAY 2015

B-BBEE  Legislation implemented in May 2015, now accepts a BEE/Eme Affidavit, as conclusive evidence, that a small business, with a turnover under R10 000 000 is BEE compliant.

Whilst our company can attest such affidavit, as recognized Commissioners  of Oaths, we have some concerns, which are;

  • A huge potential exist for fraud
  • Police officer and priests can commission, when they have little understanding of BEE law and requirements
  • An affidavit should be prepared and signed in the presence of the Commisioner. This is mostly not done, since the affidavit is printed from DTI Website, and then “signed off.”
  • Bigger companies do not trust these affidavits.

We recommend and can  offer:

  • A fully compliant BEE/Eme Affidavit prepared in your presence.
  • Importantly we can prepare a normal professional BEE certificate, with an additional letter, that lends credence to the Bee factor in the business.

The minimum procedures that an accountant will have to perform before issuing an EME certificate are:

  • Sign an engagement letter with the client
  • Obtain an understanding of the clients business
  • Maintain documentation of the engagement
  • Obtain evidence
  • Review your work
  • Obtain management representation letter
  • Issue an appropriate EME report

 

Drop us an email at sgafc@mweb.co.za, should you require assistance with a BEE .

Acountants, Corporate Law & Tax