The effective date of the amended Codes of Good Practice will be 1 May 2015. A B-BBEE Certificate issued prior to the 1 May 2015, will be valid for a period of 12 months from date of issue.
Measured entities whose measurement is post 30 April 2015 the amended Codes of Good Practice will be applicable, and all certificate issued post this date onwards must be based on the amended Codes.
So what does this mean for your company and how can you use it to your advantage?
The Amended Codes of Good Practice come with priority elements and failure to comply to them will result in a drop in your current score.
However, you can buy your organisation more time by getting verified on the old codes prior to the effective date of the amended codes which is 1 May 2015. This certificate will be valid for 12 months from the date of issue, effectively meaning that you have more time to prepare and align your organisation to these amended codes.
SEIFSA has the in-house capacity to assist companies from the start to finish. This is of enormous value to companies because we assist companies with the preparation for verification and will facilitate the entire process up to the issuing of the certificate.