Many companies have experienced some frustration in the delay in waiting for their financial statements to be audited, signed and ready to be submitted for their BEE verification.
Companies sometimes require that their BEE verification be done before finalising their audited financial statements for other reasons such as submitting tenders or keeping of contracts.
There is a solution, and it is called the – “10 point check”.
Companies can submit their management accounts as a substitute for its audited financial statements for BEE verification. The verification agency will have additional charges to conduct a “10 point check” and will request additional documents, such as bank statements and previous audited financial statements.
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