Assurance Verification Agency was established with the main objective of facilitating the Economic Empowerment in South Africa through B-BBEE Legislation transformation.
Let us assist you into participating positively in Broad Based Black Economic Empowerment legislation
Assurance Verification Agency was established in 2009 with the main
objective of facilitating the Economic Empowerment in South Africa through
B-BBEE Legislation transformation.
Assurance Verification milestones are to assist in small medium and large entities to
participate positively in Board Based Black Economic Empowerment legislation by supporting the
B-BBEE policy through contributions to small medium companies, enable
black people and black women to participate in ownership of companies and play
vital roles in the management of companies across all
By developing emerging companies (Exempted Micro Enterprise) across the Industry will lead to positive
contribution to Africa’s nation and reduce unemployment rate in Africa.
Assurance Verification Agency is 100% Black youth owned by a Black female (Ms Busie Yekwayo)
and qualify for B-BBEE level 1 as per Department of Trade and Industry, we are SANAS approved as B-BBEE Verification Agency.
Ms Busie Yekwayo Professional Accountant (SA) drew from Eastern Cape in Mount Frere where she had a dream of becoming an Accountant.
She holds a Bachelor of Accounting degree from Water Sisulu University.
She gained a vast experience in B-BBEE from previous
companies which she worked for and the B-BBEE analyst from South African Black Rating Economic Agency, Empowerdex Verification Agency and Inkomba Verification Agency where she was approved as the Technical Signatory.
Ms Busie Yekwayo Professional Accountant (SA)
She has been involved in the B-BBEE Verifications of
Toyota South Africa, Ports Regulator of South Africa, Department of Human Settlement, Department of Transport, Trade and Investment, Richards bay
Industrial Development Zone EDTEA etc.
Busie has undergone various trainings on the B-BBEE which include B-BBEE workshops, B-BBEE Management Development Programme which she obtained from Unisa School Business of Leadership.
Ms Busie holds SAIPA qualification with Professional
Accountant (SA) designation, and Economic Empowerment Professional designation which is SAQA approved.
She is also a board member of Association of B-BBEE Professionals holding the Skills Development Designation, and she has MBA qualification through Mancosa.
Ms Busie has been involved in Transformation of Small
Medium and larger entities through B-BBEE implementation policies.
She has also led the Tittle deeds restoration project which targeted Kwa-zulu Natal district through Human Settlement Interventions.
· Provide Revenue growth to Africa nation
· Client satisfaction
· Reduction of unemployment rate and empower Black
· Technology driven
To be the best Verification Agency in South Africa
AVA has competent employees which are more than enough to provide quality service to our clients.
Being proactive is our culture and to capacity developments. We put our customer first all the time; more than 90% of our employees are Black youth with Accounting, Auditing, Law, Human Resource, and Administration qualification which are key expertise for our filed of work.
We support the 4th Industrial Revolution through the use of latest technology software’s with enhance our productivity and real time on the services which we provide to our clients.
Support service is always there for you!
BEE LEGISLATION & GAZETTED SECTOR CODES
With the Broad-Based Black Economic Empowerment as the framework, various other pieces of legislation shape the implementation and measurement of Broad-Based Black Economic Empowerment.
These include the amended Codes of Good Practice, Charters and Sector Codes, Qualifying Small Enterprises, Generics, the Codes Process and the dti’s framework for Broad-Based BEE.
Please find below a list of currently gazetted codes and new draft sector codes.
B-BBEE CODES OF PRACTICE
Summary of the 2013 new codes.
The amended Codes of Good Practice for Broad-based Black Economic Empowerment that came into effect on 1 May 2015 will significantly reduce current compliance levels – by two to three levels.
It is imperative that companies measure themselves in terms of the revisions then plot their path to return to former levels. The revisions were gazetted in 2013 but are being implemented now and represent a further wave in the BEE legislation of the Department of Trade and Industry.
Initially, narrow-based empowerment (ownership and management only) was followed by broad-based empowerment, which incorporated seven elements: ownership, management control, employment equity, skills development, preferential procurement, enterprise development and socio-economic development.
Now the number of elements is being reduced to five: ownership, management control, skills development, enterprise and supplier development and socio-economic development.
The main difference though is that the revisions go a step further by identifying priority elements on which companies should concentrate: ownership, skills development and enterprise and supplier development. Failure to comply with a 40% sub-minimum in any of these priority elements leads to an automatic reduction of one level in your contribution level.
There is a sharp focus on the human resource aspects of the scorecard, with real emphasis being placed on employment equity and skills development – with black females now carrying their own, separate measurement indicators. Both elements also use the Economically Active Population racial split to ensure that there is equitable representation based on these statistics.
Skills development now takes into account the training of employees as well as unemployed people who could then be employable.The procurement element is heavily weighted towards procuring from black-owned businesses as opposed to the highest-rated businesses.
Because there are relatively few black businesses that service other businesses, there is an expectation that most companies will score poorly on this element. We have also noted a trend of companies working on new ownership transactions to ensure that they become black owned and thus be counted in the procurement scorecards of their clients.
Finally, socio-economic development contributions are now fully focused only on support that facilitates income-generating activities in the hands of the beneficiaries.
Charters and Sector codes
Purpose of the Codes
Section 9 of the Broad-Based Black Economic Empowerment Act No. 53 of 2003 (BEE Act) legally provides for the issuing of Codes of Good Practice on broad-based black economic empowerment. Besides the dti’s Strategy for Broad-Based Black Economic Empowerment and the BEE Act, drivers of transformation charter processes to date, have lacked a standard BEE framework from which to develop charters. Furthermore, some charters were developed even before the BEE Act and the Strategy document were released. Consequently, there exists substantial incomparability amongst charters, with respect to content as well as criteria for measurement. This results in entities in certain sectors with stricter measurement criteria being unfavourably disadvantaged when competing for business with entities in sectors with more lenient measurement criteria.
Status of Charters in Relation to the Codes
Transformation Charters may either be gazetted in terms of section 9 of the BEE Act, or in terms of section 12. Code 000 contained in the Codes of Good Practice includes a Statement on transformation charters as well as guidelines on the gazetting of charters.
A transformation charter gazetted in terms of section 9 of the Act means that the charter has been gazetted as a Code of Good Practice and that it therefore has the same status as the Codes. This effectively means that the charter becomes legally binding on organs of state and public entities.A transformation charter gazetted in terms of section 12 of the Act expresses an industry’s commitment to transformation but is not legally binding on organs of state and public entities.In cases where transformation charters have not been gazetted as Codes, government will make use of the Codes of Good Practice as a means of BEE measurementSector Codes gazetted under Section 9(1):
If the majority of the measured entity’s turnover is derived as a result of gazetted sector related activities, then the relevant sector code will apply to such measured entity.
GAZZETTED & DRAFTED SECTOR CODES
2016: Important Notices and Gazettes
- Notice to Repeal Sector Code
- Draft Amended ICT Sector Code
- Transport Sector Gazette
- Draft Amended FS Code
- MAC Sector
- Broad-Based Black Economic Empowerment
- B-BBEE Facilitators Status Industrial Development Corp
- Draft Preferential Procurement Regulations
- BEE Commission Practice Guide One
- BEE Commission Practice Guide Two
- Empowering Supplier Notice 31Oct2016
We take Mr President’s Risk Adjusted Strategy regulations
which are being gazetted now and then to ensure that safeguard our employees and customers during this pandemic crises.
Wearing of Mask, Wash our hand regularly or sanitise has become our slogan.
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C: +27 71 493 9423
T: +27 31 942 6604