Welcome to the blog of NSW strata investigative journalism
| From: | SP52948 owner |
|---|---|
| To: | George Venardos info@economos.com.au |
| Subject: | ADVANCE NOTICE Economos George Venardos will be listed as accessory for non-compliance of SP52948 audits in January 2024 |
| Date: | 18/12/23, 09:23 |
Good morning,
BCC-ed to Chartered Accountants Australian & New Zealand for case PC - 003660
Based on persistent efforts by Mr. Venardos to reject responsibilities for being directly involved in not-compliant audits at five SP52948 general meetings (Clause 21 of the Strata Schemes Management Regulations 2016 requires that the accounts and financial statements of the owners corporation with budget above $250,000.00 must be audited before presentation at Annual General Meeting (AGM) in accordance with Section 95 of the Strata Schemes Management Act 2015), and dubious accounting reports at two other general meetings, we officially advise your office that Economos will be listed in NCAT case in January 2024. Initially, the case has to go through mediation at NSW Fair Trading, which, we are confident, strata manager will not attend.
Judging by his own statements, Mr. Venardos seems to support actions by NCAT, so he will have chance to help the pubic officials and offer assistance in compliance with the Australian Government National Anti-Corruption Commission Act 2022 and legislation amending the Public Interest Disclosure Act 2013.
Attachment "SP52948-six-of-last-eight-general-meetings-did-not-have-Auditor-reports-sent-in-agenda-before-general-meeting-13Dec2023.webp".
a) Economos did not respond, or complain about submissions until the fifth report (three and half years of lack of actions):
First email on 31 August 2019 was ignored
Second email on 1 September 2019 was ignored
Third email on 22 December 2019 was ignored
Fourth email on 20 December 2020 was ignored
Fifth email on 12 February 2023 was finally replied to on 15 February 2023, albeit without any substantial investigation on their side (tried to defend their lack of action due to allegedly "anonymous" submissions).
b) Attachment "SP52948-Economos-George-Venardos-public-statement-confirming-his-direct-involvement-of-timing-of-audits-since-2018.webp" has Mr. Venardos' admission that he co-operated with strata manager on timings and scope of all audits for SP52948 since 2018. Emphasis is on timings (non-compliance with NSW strata Act and Regulation) and scope of the audits.
c) Even after five attempts to communicate with Economos, Mr. Venardos continued with old practices - two more non-compliant audits:
His report for Annual General Meeting 2023 (held on 26 October 2023) was completed 46 days after due date (attachment "SP52948-Economos-Auditor-report-46-days-after-due-date-11Dec2023.webp")
His report for Extraordinary General Meeting 2023 (held on 30 November 2023) was completed 11 days after due date
d) Mr. Venardos did not amend audits for previous years, including missing $10,000.00 for alleged legal costs in FY 2022 (when Mr. Venardos completed audit 43 days after due date):
Attachments:
"SP52948-discrepancies-between-Solicitor-Adrian-Mueller-legal-and-insurance-payments-FY-2022-and-2023.pdf"
"SP52948-Waratah-Strata-Management-involved-in-double-charges-for-fraudulent-legal-claims-by-Solicitor-Adrian-Mueller-NCAT-case-SC-20-33352.webp"
e) In FY 2023, Mr. Venardos completed the audit 46 days after due date, and strata manager did not provide any evidence of expenses in amount
In addition, for Admin Fund, approved balance at AGM on 26 October 2023 differed from one audited by Economos by 74.04% ($10,652.86 vs $6,120.73). Whilst the balance in Admin Fund is small, the emphasis is on how large the percentage of margin error is.
Attachments:
"SP52948-AGM-2023-dubious-invoices-24Oct2023.pdf"
"SP52948-FY-2023-differences-beween-Economos-audited-and-owner-approved-accounting-figures.webp"
We are, as always, open to any comments and evidence that Economos acted in accordance with laws and professionalism.
Regards and best wishes,
SP52948 Lot 158
