INDEPENDENT SWORN AFFIDAVITS NOT ALLOWED ANY MORE FOR EME’s AND MORE THAN 51% BLACK OWNED COMPANIES WITH TURNOVER OF LESS R50m PER ANNUM

The B-BBEE Regulator issued practice note “PRACTICE GUIDE 02 OF 2016” requiring that all future Sworn Affidavits  on the status of EME’s or at least 51% black owned companies with a turnover of less than R50m has to be done by the Business owners themselves in the prescribed format as supplied by the DTI  or they have to obtain a certificate from CIPC (Companies and Intellectual Properties Commission). This requirement applies to all companies falling under the Amended Codes of Good Practice and Sector Charter Companies whose codes has been promulgated.Our clients gave us feedback in the past that the marketplace does not accept Sworn Affidavits and they require a competent independent party to confirm and verify the sworn Affidavit. As a result, Ourselves and many IRBA Auditors in the market providing this service offered the alternative of Independent Declarations following a proper verification on the information presented. This is not allowed going forward and these Sworn Affidavits  now have to be done by yourselves the Business Owner.We now offer a “Independent Factual Finding Report” to back up your self Sworn Affidavit  after performing the standard process of verifying that your information is sound and put your clients at ease that the information provided is legitimate.We will keep you informed as changes unfold in the field of B-BBEE to ensure you can make business decision on an informed basis.

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