Accounting Theory: Banking Royal Commission (BRC) Report 2022

Running head: ACCOUNTING THEORY
Accounting theory
Authors note

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Table of Content
s
Executive summary:...................................................................................................1
Introduction:...................................................................................................................3
Discussion:.....................................................................................................................3
Part A.........................................................................................................................3
Purpose of the report:.............................................................................................3
Audience of the report................................................................................................4
Key decisions to be made...........................................................................................4
Key informational decisions related to the royal commissions report.......................5
Customers affecting:..............................................................................................6
Keywords for financial decisions:..............................................................................7
Conclusion:....................................................................................................................7
References......................................................................................................................8

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Introduction:
The above case study deals with the Royal commissions which had been established
by the government to take care of the banking rules and regulations. On the other hand if
there are change in the old rules, then that certain change is also highlighted by them. The
study report also deals with the misconduction over the superannuation, banking and
financial service industry along with the impact of the same in the large accounting firms. In
this part deals with the purpose and audience of the report, the key decisions to be taken and
the relevant information for decision making purpose.
Discussion:
Part A
Purpose of the report:
The Banking Royal Commission (BRC) is twelve month long standing equity process
whose initial value is estimated at $75million equity. Hence the same have been applied into
the banking areas and the same have been included into the broader financial servicing entity.
Thus the BRC is the investigator of the bank, insurers and the financial services as well as to
the super annuation fund. Since the equity does not have the authority to address the
misconduction by itself, hence the process could address some purpose which they could
likely look to maintain. Furthermore since the report looks to provide a detailed outlook to
the purpose, hence the purposes of producing BRC reports are as follows-
While considering the conjunction of the Australian Prudential Regulation Authority (APRA)
report to the commonwealth bank (CBA), it had said that the financial services have dulled
the senses of institution (Beasley, 2019.). Now ultimately as far as the culture is concerned

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the purpose of the report is to understand the three stages of overview the BRC aims to
provide and some insights also on how to deliver mores satisfactory outcomes. Having the
same social license does not only require any kind of long term value creation but also opts
for a long term value creation. Apart from this the recognition of the important engagement
with the stakeholders also is an important report purpose. Hence there are 10 articles have
been collected for this purpose. All the data have been collected from the articles.
Audience of the report
Generally the banking royal commission or BRC had issued a report to see the impact
of the new rules and regulations related to the banks, superannuation fund, mortgage and
loans. Hence it can be said that the key audience for the BRC rules and regulations will be
mostly affecting by the banks, different mortgage and loan provider institutes as well as other
large firms and organizations. Hence these are the organisations who could be considered as
the key audience. They are directly involved with the changes. On the other hand the general
people could also be considered as the audience because the reports are readily available to
them by various article (Lohm and Davis 2015.).
Key decisions to be made
After a yearlong exposure it has been notified that almost 76 recommendations and 24
referrals a near about 1000 page report have been prepared by the banking royal
commissioning. Hence the basic questions which should be exposed to the minds of the board
of directors is if the organisations was exposed to any similar entity. The key decisions are
related to the culture, ethics and governmence. Hence as per the royal commission report it
can be said that the board and management of the financial services directly. On the other
hand the primary responsibility is the misconduction of financial targets industries lies with
these entities concerned and those who have managed and controlled the entities. On the