Broad-Based Black Economic Empowerment Act, 2003 (Act No. 53 of 2003)Verification Manual5. Objective |
| 5.1 | The objectives of Guidelines set in this Manual are to: |
| 5.1.1 | set acceptable minimum Standards of Ethical Conduct underpinning the responsibilities of Verification Agencies (''Verification Agencies'') when performing verification and reporting on the B-BBEE Scorecard elements and overall B-BBEE status of a Measured Entity; |
| 5.1.2 | outline the responsibilities of the Verification Agency to its client in respect of quality control, contracting, conducting the verification and reporting on the scorecard; |
| 5.1.3 | set the requirements based on the key measurement principles and calculations for each element of the Code; |
| 5.1.4 | provide explanatory material and procedures to be followed in providing assurance on whether the requirements of the Code have been met; and documentation requirements for the engagement. |