MEASURED PERIOD DEFINED

Measured Period can be defined, subject to the following, as the financial period of the Measured Entity:


(a) The financial period of a Measured Entity is a period of 12 consecutive calendar months.


(b) However, in the case of a Measured Entity having amended its financial reporting period from one year to another the financial period may, for that particular year in question, be more or less than 12 consecutive months. In such exceptional cases the Measured Entity may in its discretion elect to be measured for the amended financial period (however many months it may include) or the 12 months ending on the last day of the amended financial period. For purposes of determining its classification as an EME, QSE or Large Enterprise the Measured Entity must, irrespective of the election it exercises above, do so with reference to the 12 months ending on the last day of the amended financial period.


(c) Measured Entities for which verification is required may not be measured for a Measurement Period that has ended more than 12 months prior to the commencement of the verification thereof.


(d) For EME’s and QSE’s that are allowed to depose to an affidavit, the Measurement Period must be the 12 consecutive calendar months that immediately precede the last day of the most recently completed financial period.


(e) The Measurement Period is the period over which the ‘Skills Development’, ‘Preferential Procurement and Supplier Development’ and ‘Socio-Economic Development’ elements must be measured. This statement does not detract from the requirement that for the purpose of calculating the target for Supplier Development and Socio-Economic Development, regard should be had to the financial position of the Measured Entity that precedes the Measurement Period. Only contributions that become payable within the Measurement Period will be recognised.


Reference

Construction Sector Code Gazette Number 41287, gazetted on 1 December 2017


Article By:

Edrich Linde: Executive Consultant - Compliance Hub

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