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note: part 6 of NIBA code require insurers to reveal incentives and commisions – and specify the “dollar amount”. that came into force late 2023. It applies to ‘retail’ products. B2B dealings dont need to reveal it. How, or if, this conflicts with State lcirminal laws on “secret commissions” is beyond me… (not a lawyer)
[REDACTED] now part of the mega broker [REDACTED], has in their FSG they promimently state they are not indendant or inbiased, and are gonna be a bit you know, because, hey, relationships, and their “commission” is 0-30%
They charge brokerage too. Around 10% or flat fee. They call this a “fee”.
They do not mention “profit share” or “kick backs”, or “pimping” or “referral fees” or “overriders” . But they mention “gifts”. which is a nice blanket term for mutual reciprocity.
So you should see the exact $ commission in invoices soon.
Like a pheasant plucker, they appear to make it clear , while not making it clear, and to give you choice, but you dont get choice. to pay commisison. or fee. or both. But you “choose”. [Note: no commission on invoice, only the “fee”. how do you have the “CHOICE”? ]
NB: elements of this post, including an attachment, have been redacted because they breach our anonymity policy.
DO NOT USE the auditor suggested by the strata manager. These auditors go soft in order to get repeat business from the strata manager. Remember it’s your money that’s being audited and the audit is to make sure thst the money is being spent correctly ( get an auditor familiar with strata ).
An independent and outsider auditor can also go soft in order to get repeat business. Isn’t that right?
@Kaindub you are correct. Our Strata Manager has in-house service providers. This includes their auditor.QUESTION ON HOW TO ADDRESS THE CRAP I’VE UNCOVERED.
REALLY – Why isn’t it straight up “stealing as a servant’, when the Strata Manager pays bills for work not requested and work not done?
Next: In NSW is their a requirement for auditors to be registered AND not a co-owner or related entity of the entity being audited? This one literally shares and office and may be part of the same holding.
I asked for an independent auditor (of our choosing) but the strata manager went ahead and appointed their own. My own strata committee declined to back me up (part of the pattern I am noticing). The auditor found nothing but did NOT check any invoices. ( by checking invoices myself I easily found a pattern of dodgy billing – mistakes always in the same direction)
Where do I go looking for an auditor who will actually check the invoices match the accounts? And must they be approved by and appointed by the strata committee ? I am asking as the VOTE for getting an auditor will have to happen at AGM. And THEN the Strata Committee meeting all have the option to choose an auditor. I wish to provide our SC a list of 2 or 3.
SUMMARY AND QUESTIONS
1a. The accounts are wrong/can’t be assessed tone right….. If we voted at AGM NOT TO ACCEPT THE ACCOUNTS as correct at AGM what is the process? We didn’t accept then at last AGM as the strata manager was not giving us any access to invoices. So if we do this 2 yrs In a row what’s the deal?
1b. No idea where to find auditor for strata. Is there a professional body with a list ?
2. Complains and exposure. I will complain to the strata manager and the alleged auditor we paid for last time as they obviously didn’t do a full check.
AND THEN REMEDIES – what do I do to correct the “mistakes” I have found?
Step one: email strata and each entity sending dodgy bills for work not done to immediately refund the amount , and an explanation. (and if their actions or explanation unsatisfactory, report to NCAT and police. ? Or why not report them ANYWAY as a pattern in behaviour? I don’t follow the logic above, that by paying you back they prevent their survey deeds being uncovered by the NCAT. Putting something back doesn’t mean you didn’t steal it the first time. My lost time, distress and frustration count.
If I spend a week reviewing all bills and accounts , can I reasonably claim that expense for correcting their thefts/mistakes? Is that an NCAT thing?
-step two: mediation, apparently (above)
-step three:NCAT tribunal (effectively small claims
– step four: Of I am not satisfied explanations around the already detected mispayments, fraudulent claims for work not done, bills paid without our authority (after strata manager was told not to pay bills unless 2 committee members had approved) Why not tell the police now? Why give someone the benefit to the doubt, and a way to cover their tracks and avoid detection and prosecution? If they are doing it to one strata, then they are doing it to many, surely. They need to be stopped and an interested investigator would probably uncover a lot.
SCENARIO. If I send your strata a $1000 invoice for work I didn’t do, that wasn’t asked for, and it gets paid without your strata committee (despite process in place), that is fraud. It’s not an accident I accidentally made. Especially if I keep doing it. BOTH I AND THE STRATA MANAGER have committed fraud/stealing.
I don’t understand why this isn’t seen by the comments above as a straight up police matter? (Or have you all tried and become cynical / resigned that nothing changes/police don’t investigate even when shown multiple false invoices?).
what was the result? I have a similar situation, less about gross misspending, and more about the SC not functioning:
- one year with no SC meeting notices, agendas or minutes, despite a dozen meetings
- motions that contradict by-laws, (which have force of law)
- no plan or budget for work, do their own decorative / pet projects but have ignored at least 3 legally required safety issues, and
- no preliminaries were done at AGM by Strata Manager, so non financial people vote, nominate and appoint themselves to the SC (I shows the Strata manager the financial and I read aloud the legislation sentences from the agenda, she ignored it). the minutes don’t show who voted, so we cant tell if ANY motions we valid when passed, so I want to have the AGM declared void and hold it again, at their cost.
- and I want to get the SC dismissed and the secretary and Chair barred from office for ignoring all reasonable requests to abide by process (attaching guide books and legislation).
any recent experience succeeding resolving this at NCAT?
- the Strata Manager wont provide invoices, so we cant check the financial statements.
- I like the idea of making a list of contraventions and and seeking the Strata Manager resign.