You are in good company
Be prepared for your BEE audit
Ensure a Smooth, Accurate and Efficient Audit. A measured entity can spend a significant amount of time and money to transform the company and achieve its required BEE level.
The BEE audit process is fairly complex, and as a result, the final certificate might not reflect the time and resources spent to achieve the desired BEE outcome.
The above can be because of several factors but not limited to the below:
Numerous stakeholders involved and misalignment on interpretations, calculations, timelines etc
Not understanding the BEE audit process/BEE Legislation
Inability to provide the required supporting BEE documentation to the verification agent
Not meeting the BEE audit timelines of a particular verification agent
Not reviewing the draft audit results against the company forecast and liaising with the verification agent
Pre-verification Process
- BEE verification agent engagement
- Calculation of the forecast BEE scorecard as well as identify any areas for optimisation
- Review and submit claims to BEE verification agent
- Review sample selection of auditor for completeness and accuracy
- Assist in compiling and reviewing the audit file
Verification Onsite Assistance
- Project manage the BEE audit process with the auditor and Company’s internal teams
- Ensure that all interpretative risks are managed as far as possible with the BEE auditor
- Transcend will be present at the onsite to assist the team with project management of the audit, including the scheduling of employee interviews
Post verification wrap up support
- Engage with the auditor to align Transcend's forecast score to theirs to ensure optimisation of scorecard level
- Assist in clearing all audit file review notes
- Ensure that all deadlines for the audit are met
Verification Onsite Assistance
- Provide a written report on the audit, debriefing what went well as well as areas of improvement
- Provide a baseline for the BEE strategy for the next year
Why your Transcend BEE audit verification assistance ("BAVA") team is different
Transcend has developed and trained a first-of-their-kind bespoke BEE Verification Assistance team. This team is fit-for-purpose for ensuring your audit is as efficient and cost effective as possible, whilst yielding optimal results on the scorecard.
The team is lead by qualified CA(SA)s, whom have spent many years within the audit and BEE environment
The BAVA team consists of numerous CA(SA) and BEE experts alike, that understand: the BEE legislation have robust financial acumen essential to verification as well as extensive auditing experience
We built our audit process using LEAN thinking principles - reducing error, reducing unnecessary steps, saving time and costs and improving interaction with stateholders
The team have built important relationships with critical stakeholders within the industryNewsletters
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