B-BBEE Verification Analysis
The purpose of B-BBEE verification is to issue an accurate B-BBEE Certificate and score of an organisation, based on measuring credible evidence provided by an organisation.
All B-BBEE measurements calculated in lieu of issuing certificates must be done by a SANAS accredited B-BBEE verification agency, or individual practitioner (B-BBEE Professional). In doing this, an organisation will have peace of mind that the score they attain on their certificate is based on a credible verification measurement and is in fact valid, accurate and complete, and has been verified as such. A B-BBEE Professional is defined in the verification manual as a “person who performs any work in connection with rating the status of enterprises in terms of Broad-Based Economic Empowerment compliance, on the authority of, or for a rating agency accredited by, a B-BBEE Verification Professional Regulator.” …show more content…
The level of accuracy evaluates whether an absolute adjustment or extrapolation adjustment is applied to the population, from which the sample is extracted. If an error identified is an isolated one, the level of accuracy is high, which would require an absolute adjustment be applied. For example, only the sample with the errors is adjusted. However, if the errors identified are common errors or pervasive in nature, then the accuracy of the sample is low, which would require an extrapolation adjustment to be applied. This means that the entire population value will be adjusted based on the accuracy rate of the sample. conclusion, it is important to keep in mind that the verification manual is more than just a guideline for B-BBEE Professionals, it is mandatory for all verifications. Any organisation or measured entity should familiarise themselves with the guidelines or content held within the manual. This will ensure that when organisations or measured entities draft and/or implement their
All B-BBEE measurements calculated in lieu of issuing certificates must be done by a SANAS accredited B-BBEE verification agency, or individual practitioner (B-BBEE Professional). In doing this, an organisation will have peace of mind that the score they attain on their certificate is based on a credible verification measurement and is in fact valid, accurate and complete, and has been verified as such. A B-BBEE Professional is defined in the verification manual as a “person who performs any work in connection with rating the status of enterprises in terms of Broad-Based Economic Empowerment compliance, on the authority of, or for a rating agency accredited by, a B-BBEE Verification Professional Regulator.” …show more content…
The level of accuracy evaluates whether an absolute adjustment or extrapolation adjustment is applied to the population, from which the sample is extracted. If an error identified is an isolated one, the level of accuracy is high, which would require an absolute adjustment be applied. For example, only the sample with the errors is adjusted. However, if the errors identified are common errors or pervasive in nature, then the accuracy of the sample is low, which would require an extrapolation adjustment to be applied. This means that the entire population value will be adjusted based on the accuracy rate of the sample. conclusion, it is important to keep in mind that the verification manual is more than just a guideline for B-BBEE Professionals, it is mandatory for all verifications. Any organisation or measured entity should familiarise themselves with the guidelines or content held within the manual. This will ensure that when organisations or measured entities draft and/or implement their