Implementation of Accounting Information System in Commonwealth Bank, Australia

IMPLEMENTTAION OF
ACCOUNTING INFORMATION
SYSTEM IN COMMONWEALTH
BANK, AUSTRALIA

About the Commonwealth Bank
Commonwealth Bank is an Australian
bank which is one of the most significant
organization in the financial sector. The
current situation of the bank needs the digital
disruption in the banking process. The main
objective of this paper is to propose a
sustainable system which will help to
improvise the current banking process . The
paper has also discussed about the
requirements needed for the implementation
of the system.

The type of the proposed system:
In order to develop the internal processing of the
bank, the improvisation of the accounting system is
needed to be done. The bank is still dependent on the
human processing for some of the accounting
process. In this case, the bank can use a software that
will work as a good accounting information system
management. The main working of the accounting
information system is to collect, store and process the
financial data and help the users of the software to
make the important decision making process by
providing relevant financial information.
The deployment of the accounting information
software such as like Xero or Deltek Costpoint will
provide the Commonwealth Bank better management
of the financial information along with better security
and the mechanism for the detection of the fraud.