Page 23 - Q&A
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of a level or two. These companies then do not have the option to rectify that
situation immediately as they would need to wait until the end of their current
BEE financial year before they can verify on new information.
Although there are legitimate reasons for not allowing management
statements for any 12-month period, this approach can have unintended
consequences. Management statements for the 12 months of your financial
period is allowed, and can maybe help speed up the process by not having
to wait for the annual financial statements. However, it still remains limited to
the official financial period, which will require companies like yourself to plan
carefully to ensure that they have the necessary in place in the 12-month period
which will be used for their verification.
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