Johannesburg – Big accounting firms have to be 32.5% black-owned by 2016, the black economic empowerment (BEE) charter for the profession stipulates, the Business Day newspaper reported on Thursday.
The charter was signed recently by Trade and Industry Minister Rob Davies after seven years of negotiations, and will be gazetted and implemented next week.
Accounting firms with an annual turn-over of more than R35m must be 32.5% black-owned and managed by 2016.
This is higher than the equity targets of 25% in the government's BEE codes of good practice.
via www.fin24.com
I don't think those targets are that difficult to meet (for the bigger practices). Shareholding in a partnership comes down to the number of black partners.
I wonder if the spelling and maths in this charter will be better than all the other codes
That is really high 32.5% i can’t really imagine it,in Finland most of the accounting firms neutralize everything and not yet reach that 32.5%.
That is really high 32.5% i can’t really imagine it,in Finland most of the accounting firms neutralize everything and not yet reach that 32.5%.