Broad-Based Black Economic Empowerment Act, 2003 (Act No. 53 of 2003)
Chartered Accountancy Charter
Section D : Challenges
Assignment of Activities for Meeting the Challenges
16.1 Ownership and Management Control
This portion of the scorecard concerns the ownership Elements as well as the management control element of B-BBEE. The key Element of ownership is holding an economic interest in the enterprise, which entitles the person to receive distributions or benefits. Such interest must thus represent a return on ownership in the firm. Management entails participation, in the sense of having a say in the strategy and aims of an enterprise.
Basically, the aim is to ensure the empowerment of black people at an ownership and management levels.
The activities listed here need to be undertaken by the CA sector in order to reach the future outcomes as stipulated