What’s new at AQRate:
Our resident Technical Signatory, Gabi Greyling, has taken on the role of Technical Director this year. We want to extend our heartfelt congratulations and gratitude to her for her excellent work at AQRate over the years!
Gabi joined the AQRate team nine years ago as a Verification Analyst serving a diverse range of clients across all sectors. She completed the B-BBEE Management Development Programme through UNISA in 2014 to become a Technical Signatory and was appointed Technical Verification Manager in May 2015. Her role as Technical Director is a natural progression for someone so talented and committed.
Things you may not know about Gabi: She has a Bachelor of Commerce in Economics and Finance from UCT, a BTec in Interior Design from the British Academy of Interior Design, and is a classically trained violinist. She and her husband love animals and recently adopted a kitten which has made working from home so much more lively!
Industry Update:
As a valued client of AQRate, we wish to inform you that we received information from the B-BBEE Commissioner regarding ‘Explanatory Notice 1 of 2021 – Guidelines on Completion of the Compliance Matrix’, which will come into effect on 01 April 2021.
This seems to replace the earlier notice, ‘Explanatory Notice 2 of 2017’, for the reporting requirements introduced by the B-BBEE Regulations in 2016.
The Commissioner has updated the Explanatory Notice for completing the required form, and this should be read in conjunction with the Regulation and FORM 1 for listed entities (both available here). Refer to ‘Part 2 – Reporting Duties, par 12. Reporting duties of the Regulation’.
As per paragraph 5 of the new explanatory notice, all spheres of government, public entities, and organs of state and all companies listed on the JSE will need to provide additional B-BBEE reporting requirements within thirty (30) days post-approval of annual reports and financial statements. Or ninety (90) days after the end of the financial year for listed entities, irrespective of whether it is a primary or secondary listing.
All Sectoral Education and Training Authorities contemplated in the Skills Development Act, 1998 (Act No. 97 of 1998) must also report on skills development spending and programmes to the B-BBEE Commission 30 days post-approval of annual reports and financial statements or 90 days after the end of the financial year of the Sectoral Educating Training Authorities in a prescribed Form B-BBEE 2.
It is important to take note of paragraphs 8 and 9 of this new notice, which states that a measured entity is advised to record zero under the relevant field if:
it does not have the information required to categorise according to geographical location, youth, women or people with disabilities, and
it does not claim recognition for such categories on its scorecard.
However, where the measured entity on its scorecard has claimed the categories in question, the information must be provided and be readily available as supporting evidence of the claims.
Failure to do so will result in the compliance report not being acknowledged as submitted for compliance with section 13G, resulting in contravention of the B-BBEE Act.
Please request the final version of the accepted data entered into the scorecard at the end of the verification. This will ensure the information submitted to the Commission matches that of the final issued scorecard and certificate. If something was not measured or awarded on the scorecard, the Measured Entity should not report it in their submission to the B-BBEE Commission. For instance, the Matrix asks for SED participants' location, which is not measured or verified under any Codes.
As one of the top BEE verification agency in South Africa, we are committed to providing you with the utmost quality and professional service, with uncompromising ethics and a passion for transformation.
If you have any queries, please do not hesitate to contact our office at This email address is being protected from spambots. You need JavaScript enabled to view it..">This email address is being protected from spambots. You need JavaScript enabled to view it..
Sincerely,
Jeanette Buys
CEO
Tel: 021 914 9451 / Fax: 021 914 6295 / www.aQrate.co.za
