The following key principles have been adopted by the CA profession with regard to the implementation of the Sector Code:
- All B-BBEE initiatives of the CA profession will be measured and reported on an annual basis.
- The fundamental principle that all measurement of B-BBEE initiatives is based on the actual level of B-BBEE compliance at the date of measurement, will be adhered to.
- The CA profession will adhere to economic principles when implementing the B-BBEE initiatives so as to ensure the sustainability of the B-BBEE process.
- The CA profession will account for and present all B-BBEE initiatives in accordance with the substantive and economic reality and not merely the legal form.
- The CA profession will ensure that there is uniformity on how B-BBEE initiatives are recognised and measured so as to facilitate a comparison of B-BBEE progress between different constituencies.
- The CA profession undertakes to promote information that is free from material error and bias and can be depended upon by users to be a faithful representation of that which it could reasonably be expected to represent. Any representations made will be capable of being supported by appropriate evidence and documentation.
- The CA profession undertakes to provide information pertaining to the B-BBEE initiatives that is complete.
- The CA profession undertakes to provide available information on a timely basis.
- The Codes make provision for a transitional period where measurement may be undertaken in accordance with the Generic Scorecard or score achieved in respect of code 100 and 200 based on a formula. For purposes of the CA profession there will be no transitional period and measurement will be undertaken in accordance with the gazetted scorecards.