Broad-Based Black Economic Empowerment (B-BBEE) is a reality for all businesses in South Africa.
B-BBEE is a government initiative to promote economic transformation in order to enable meaningful participation in the economy by black people. For companies doing business in South Africa, B-BBEE compliance should be a strategic imperative especially since the revised regulations on public sector preferential procurement came into effect on 7 December 2011.
These regulations made BEE level contributions and commitments to local production and content a pre-requisite for doing business with all state organs. Together with the amended Broad-Based Black Economic Empowerment Act 46 of 2013 and the Amended Codes of Good practice effective from 12 October 2014, the regulations have introduced additional complexities for businesses that were just coming to terms with the realities of B-BBEE.
How we can help
At New Century Accounting we have always gone about our business in a different way. With proven success. Objectivity and impartiality are our key priorities when carrying out B-BBEE verification and compliance services.
New Century Accounting offers BEE Verification and value adding services. We are a SANAS accredited verification agency situated in Johannesburg.
Our BEE team comprises of Professional Accountants, Independent Reviewers and MDP B-BBEE Graduates.
Our Approach to BEE engagements
We believe that the BEE experience can be enhanced by balancing flexibility with procedural compliance. We do not place procedural requirements ahead of customer satisfaction. Our systems and processes have been fine-tuned to enhance our ability to add value and assist clients to maximize their B-BBEE compliance throughout the audit process.
We follow a structured approach to collection of information, which assists to maximize scores and provides key touch points to educate, identify gaps, and offer non-specific solutions. Where required, we cross the bridge to consult by providing assistance to identify and implement specific solutions. In these cases we recuse ourselves from the audit of these solutions and partner with our client to work with an independent auditor who can independently certify their compliance.
We understand that things don’t always go according to plan, and strive to maintain an organisation that is flexible and adaptable so that you are not penalized when things go wrong on your side. We ensure that we have sufficient resources to solve your problems as and when they arise.