There are numerous Sector Codes that apply to specific sectors. These Sector Codes have their own scorecards and accompanying requirements. Certain companies may be under the impression that they fall within the scope of the Amended Codes of Good Practice but may experience an unpleasant surprise, come verification time. An example would be an entity that manufactures steel components.
Some of these components are used in the construction industry. Where the revenue generated by the entity comprises more than 50% of these components used by the construction sector, the manufacturing entity would have to be rated according to the 2017 Amended Construction Sector Codes which has vastly different requirements when compared to the 2013 Amended Codes of Good Practice. This would have dire consequences if the strategy employed during the applicable measurement period was based on an incorrect assumption of which Codes apply to the entity.
Contact us should you require clarification as to which Codes apply to your company.
