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22 July 2008

The Department of Trade and Industry (DTI) gazetted the verification manual on 18 July 2008 (No. 31255) to provide a framework for the accreditation and verification of Broad Based Black Economic Empowerment (BBBEE) reporting. The South African National Accreditation System (SANAS) and Black Economic Empowerment (BEE) verification agencies, and verification industry at large, are expected to benefit greatly from the establishment of these comprehensive guidelines, and norms and standards, on the validation of accelerated transformation in South Africa.

The objectives of the manual are, inter alia, to set acceptable minimum standards of ethical conduct underpinning the responsibility of Verification Agencies when performing verification and reporting on the BBBEE scorecard, and outline the procedures to be followed in providing assurance on whether the requirements of the BBBEE codes of good practice have been met.

The manual, as the compliance measurement tool for the principles and application of BBBEE codes of good practice, will go a long way in increasing the authentication and substantiation of BBBEE reporting. Its utilisation is also expected to make a substantial contribution in changing the way the business of BBBEE verification is done, and instilling a sense of accountability in respect of industry governed norms and standards.

The BBBEE verification manual can be obtained from the DTI head office (Pretoria /Tshwane) and is also accessible via the DTI website: http://www.thedti.gov.za

For further information:
Takalani Tambani
Tel: 012 394 1638
E-mail: TTambani@thedti.gov.za

Issued by: Department of Trade and Industry
22 July 2008