BBEE has come a long way and has changed quite significantly over the years. The changes have brought with them increased compliance requirements for organisations. B-BBEE compliance has an impact on business and the economy. When it is implemented the right way it gives an organisation leverage against competitors and access to projects and tenders.
With the above being said, it is difficult at times for organisations, especially if an organisation does not have an inhouse BEE specialist, to prepare and oversee the BEE Verification process.
Not only is B-BBEE complex but the verification process is even more complicated, and companies lose a lot of points because they do not have the right supporting evidence.
A BEE consultant is needed for the complexities of B-BBEE and most importantly to help guide the organisation during the verification process. They help put together the file and act as support during the verification process.
The purpose of a B-BBEE verification is to issue a reliable B-BBEE certificate and a score for an organisation, based on measuring credible evidence provided.
Support and advise from a BEE professional during a BEE verification:
· They are responsible to make certain that the evidence is sufficient with the right quality and quantity
· They help identify any misstatements that might require more evidence and are able to point these out to the organisation before the verification process.
· They save organisations time and money and ensure that an organisation does not go through lengthy verifications.
The main objective for any company in this verification process is to prevent discrepancies, build auditable data and processes, ensuring that the right score is achieved on the B-BBEE scorecard.