Impact of Accounting Ethics on Banking Sector Financial Planning and Internal Audit Framework

Research
(Project 3)

Contents
Title page.......................................................................................................................................................................... 3
ABSTRACT.....................................................................................................................................................................4
Aim- Identifying the impact of accounting ethics on banking sector financial planning and internal audit framework:
a research project on the Commonwealth Bank Australia............................................................................................5
Objectives-.................................................................................................................................................................... 5
Literature review..............................................................................................................................................................5
Research Design and Methodology................................................................................................................................10
Data analysis.................................................................................................................................................................. 12
Ethical Consideration...................................................................................................................................................13
REFERENCES...............................................................................................................................................................14

Title page
Title: “To identify the influence of accounting ethics on financail management and auditing system
of Banking sector: A case study on Common Wealth Bank Asutralia”.

ABSTRACT
The respective research summarise the impact of accounting ethic rules and regulation over financial
management and the auditing procedure within banking industry. It is very important to consider each and
every ethical concept of accounting while managing financial resources and auditing the internal reports of
any bank. This particular work is focused solely around the legal concern of an organisation's auditing
framework. The Code of Ethics is important in banking industries for the accounting firm. The primary
objective behind this work is the recognition of the impact of business ethics mostly on financial markets and
the auditing method of banks. To complete the research descriptive research design has been selected. By
implementing this method researcher can enhance their project understanding, and outlines the final findings
equally. Method of research used is questionnaire which support in collecting data from a group of
candidates.
Research background
Accounting ethics is regarded as an important subject since, as accountants, is the main people
handling the persons and institutions' financial records. This control often provides the possibility and
consequences of knowledge misuse or number manipulating to improve client expectations or to implement
earnings management. Ethics, too, is completely important during an audit. Without satisfying the auditing
and financial ethics standards, an audit should be stopped immediately. Accountants have responsibilities
towards clients, investors, workers, customers, the state, the accounting community and the general public.
Accordingly, ethical behaviour is a necessary and anticipated trait; as a result, an auditor is responsible for
the implications of his moral decisions not just for his own life but also for the lives of company.
Australia's Commonwealth Bank (shortened CBA or CommBank) is an Independent investment bank
with operations throughout New Zealand, Europe, the U.S., as well as the U.K. It offers a variety of financial
services like private, corporate and investment finance, wealth management, pensions, retirement, savings,
and investment banking. As of August 2015 the Commonwealth Bank became Australia's biggest listed firm
on the Australian Stock Exchange. The CBA was created in 1911 under the act of Commonwealth Bank,
which was passed by the Andrew Fisher Labour Government, which advocated bank nationalization, with
effect from December 22, 1911. Good corporate governance means that CBA uphold the highest level of
ethics and behave with dignity throughout their commercial operations. The Code lays out assumptions for
how Commonwealth Bank is behaving with customer and other stakeholder, solving problems and making
decisions for the future improvement.
The problem statement of respective research is that in case if ethical standard of accounting are not
followed while managing and controlling financial resources and information overall functioning of