With the release today of the McGrathNicol Report into Netstrata, the SCA (NSW) Board of Directors acknowledge that members will have questions over the actions that are being taken by SCA (NSW) following the ABC reporting in 2024.
Graham Gorrie was engaged by SCA (NSW) to undertake an independent investigation of Netstrata. That investigation was voluntary by Netstrata and it resulted in a number of recommendations for improvement being made to Netstrata.
Based on this report, SCA has strengthened the Code of Ethics and engaged an independent consultancy group to undertake an ethics and conflicts review at the national level.
Where to from here?
The recommendations of the independent investigation carried out by SCA (NSW) apply to the broader strata industry.
They have been sent to the Professional Standards Authority (PSA), who govern our Professional Standards Scheme (PSS).
We have been discussing components of these recommendations with Fair Trading intensively.
SCA members will have access to the recommendations for review, which have been provided to the external firm conducting our ongoing ethics and conflicts review.
SCA (NSW) has approved the engagement of an independent business auditor to support our members in reviewing their current strata management business practices.
The Board will be reviewing the McGrathNicol report recommendations over the coming week.
Please be assured that the SCA (NSW) Board of Directors understands the significance of the ABC reporting and the Fair Trading investigation. While increased accountability and transparency are ultimately positive outcomes, we recognise that the on-the-ground experience of our members is essential in guiding our decisions. We are fully aware of the difficulties members have faced, and we are committed to addressing them.
The SCA (NSW) Board is committed to upholding the Code of Ethics and its equal application to all members. We appreciate your patience as we complete due diligence as part of the process of improved transparency and communication.
