Accounting Theory Report: Banking Royal Commission Impact Analysis

This report analyzes the impact of the Banking Royal Commission on accounting theory, focusing on its purpose, audience, and the key decisions that arose from it. The report explores the commission's role in addressing misconduct within the superannuation, banking, and financial services industries, as well as its impact on large accounting firms. It delves into the purpose of the report, identifying the key audiences affected, and the key decisions made based on the commission's findings. Furthermore, the report highlights the informational decisions related to the commission, including customer impacts and relevant keywords for financial decisions. The conclusion summarizes the findings, emphasizing the commission's influence on financial regulations and the need for ethical practices within the industry. The report also includes a source analysis template for the resources used.

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

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other hand the management have clarified that the fallings are on the verge of extension to the
culture, governance and remuneration Hence with the deflecting rules and regulations of the
organisations themselves, it had been said that the community regulations expects that the
financial services have been concerned as the entities that break the BRC laws. On the other
hand as per articles it is seen that the roles and regulations can play an important role towards
the culture, values and benefits, remunerations, supervision and all the financial risks are
associated with it. Hence the financial reports also convey that it emphasizes that the key
principles are of good governance especially the importance of the board challenges of
management and thus by having the right source of education for the directors to perform
their duties successfully. On the other hand it is obvious that the governance community
needs to learn the lessons of the royal commission and try to implement the changes therein.
Hence it is also obvious that the key decisions is a warming that the firms cannot only accept
the status quo. Hence it is important the challenges need to be accepted and the compliance is
hundred percent sure that the things are correct and procedures are related to the law
(Newman et al., 2016.).
Key informational decisions related to the royal commissions report
As per the reports published by the royal commission they are asked to invest whether the
Australia’s financial industries are any how got engaged in misconducts or any other criminal
activities or any such legal proceedings related to commonwealth. Apart from this it can also
be considered that the sufficient mechanisms are related to the composite victims. On the
other hand it can also be considered that the evidence of the applying behaviour of the major
Australian banks and financial institutes including allege bribery, forged documents and the
repeated failure to the customers before money lending and misuse of the licencing
technique(Braddon et al.,2018). Currently it is seen that the AMP had admitted to the

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regulators and commonwealth banks over the financial planners have been charging fees to
the dead clients.
The key financial decisions also includes indulgence of the major Australian banks like
commonwealth banks, ANZ, Westpac and others. Since these banks comprise of most of the
shareholdings, hence the other companies also got affected by this report like AMP, BT
financials, Aussie home loans etc. apart from these it can also be said that more financial
institutes can also appear future. Considering an example of commonwealth bank a full year
cash profit of $9.8 billion have been initiated which is valued at 4.6%.,followed by Westpac
bank at 3%, ANZ at 12% and NAB at 2.5%. The depositor’s institutes hold an amount of
$4.6 trillion in assets. The GDP have increased at $1.8 trillion (Davis and Hay 2016). There
are also some challenging environment the government board have undertaken the
management challenges, correspondents tot the Australian corporate governmence model.
Apart from this the case study have made concerning the commonwealth banks of Australian
compliance with the money laundering and counter terrorism to the financial compliance
towards the financial laws and the advisor service activities fee to the superannuation fund
concept. Hence it is expected that the fund members have made a focal point related to this
aspect. Next the culture changes are also considered as another best practise (Tullo et
al.,2016). It includes-
 Obey the law.
 Not to mislead or deceive.
 Fair act
Customers affecting:
Not only the poor business decisions but also it had affected the reprehensible
decisions of the bank employees. Hence a remediation of $250 million remedial have paid to

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the 540000 employees to the poor conductions of home loans and process. On the other hand
multiple banks have gone over the scandals to the commonwealth banks of $53700 branches
of money laundering and other financial transactions through the deposit ATM and the
number of years.
Keywords for financial decisions:
The main keywords which are related to this topic includes all the relevant data and
phrases for any particular decision makings for the particular topic the researcher have
searched for (Li, 2016.). Every topic have some relevant information to provide. Hence the
relevant keywords are very much, important. However the common ideas and reports are
related to the keywords. Thus all the data are equally important and helpful for the keywords.
Hence all these keywords could bridge the gap between the audience of the company and
manager. On the other hand the keywords are the findings of the terms which the people
often search from the search engines. Other than that the webpages, contents creations and
the marketing are also considered as an important aspect related to the keywords.
Furthermore the content creation and the other BRC aspects as on the keywords are also an
important part relating to this concept. Lastly the BRC royal commission recommendations
does have a huge impact over the business consideration (MacQueen ,2014.).

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Conclusion:
Hence it can be concluded from the above study that the BRC commission have
initiated new rules and techniques which is basically focused on the finances and
superannuation fund in the given context. Hence the purposes of this report have been
successfully identified towards the banking rules and regulations. Similarly the key audience
for the reports is are targeted as the clients, bankers’ employers, superannuation fund and the
other business financial institutes. Since the customers have faced a lot of problems by the
royal commission published report. Thus all the reports are expected to have high impact.

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Source analysis Template – 3 needed
Full citation of resource
Baker-Jones, M.K., 2017. Social Media in Emergencies: An examination of government
accountability for risk communication and warning (Doctoral dissertation, Queensland
University of Technology).
Author’s credentials
BA (University of Canterbury, NZ), LLB (QUT)
School of law
Queensland University of Technology
Brisbane, Australia
Associate Supervisor
Amanda Stickley
Author’s intended audience
The intended audience of the author is the government. He is pledging them to reduce the risk
association and to allocate the risk communication between all the citizens. He is required to
implement disaster cycle to take preparatory measures by the government. The author is also
focusing on the citizens to address the plan to combat with disasters in social media.
Author’s main argument(s)/main idea(s)
The main idea of author is to managing the risk by ensuring proper communication and
sending warning procedures for the mitigation strategy in order to control the tool. He is
focusing the social media, which can be used by everyone who can share their plans and idea
to get protected from disasters.
What evidence is provided to support the argument/idea? Give specific examples
Technology which are emerging are the best options to implement discussions about
emergency situations. As the author said it will impact a positive note among all.
Does the source raise any questions you need to answer or have connections to other sources
you have seen? (For example, it supports or contradicts them) If so, name the sources.
It supports the idea, which have been signified by the author in relation to the connection
specified by the author.
Conclusion (overall value of the resource and use in the report)
The social media is the basic resource used in the report in order to address the citizen about
the concern to address plans and other impact from the output of the resource. However, the

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legal issues are brought to notice that it might be a burden of liability and it is focused to
maintain and use it effectively.
Full citation of resource
Brady, J., Ebbage, A. and Lunn, R., 2013. Environmental management in organizations: the
IEMA handbook. Routledge.
Author’s credentials
Director of the office of the report on Carcinogens. She prepares report on behalf of Health
and Human services. She is supported and sponsored by the government.
Author’s intended audience
The intended audience is the reader to whom the author is mentioning about the environment
and how to preserve the important resources.
Author’s main argument(s)/main idea(s)
The intended argument of the author is to protect the mother earth and her belongings. The
author is trying to mention about the ecosystem of earth. The living creatures of the planet
and the solar system which revolves around the sun.
What evidence is provided to support the argument/idea? Give specific examples
The evidence signifies about the discussion on natural laws, living organism and the
ecosystem resources. The author discusses about chemical transformation and the
interdependent element of the ecosystem. He also focused on human ecology and natural
cycle.
Does the source raise any questions you need to answer or have connections to other sources
you have seen? (For example, it supports or contradicts them) If so, name the sources.
It completely supports with the resources given above.
Conclusion (overall value of the resource and use in the report)
Author selectively mentioned about the ecology of the mother Earth. The human ecology is
one of them. Biological diversity of the nature is also discussed perfectly in association to it.
The resources and living organism is mentioned and pros and cons of using it been described
carefully. Thermodynamic reaction can lead to the principle of conservation and natural laws
are enacted effectively.
Full citation of resource
Baughan, E., 2018. Rehabilitating an empire: humanitarian collusion with the colonial state
during the Kenyan emergency, c. 1954-1960. Journal of British Studies.

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Author’s credentials
British author who is famous for his writing. For example “A regional history of the Railways
of Great Britain”, “North ad Mid Wales” and “North wales cost Railway”.
Author’s intended audience
The intended audience of the author is the member of “Save the children Fund”. He depicted
that during the colonial period the founder of this campaign provided the best effort to make
it a grand success.
Author’s main argument(s)/main idea(s)
He tried to uplift the value of high morale of a human and to what extent that can enable the
society to surge higher even if there is turbulence. Even the Britishers were ruling in Kenya,
still the chairman of Save The Children Campaign entitled the operation into absolute
success. The morale which author tried to depict stands to “if there is a will, there is away”.
What evidence is provided to support the argument/idea? Give specific examples
When Mr Boyce implemented the humanity organization named “Save the children’
campaign who were facing several diseases during the war between Kenya and England, the
whole government of the country stands with him. This is the best evidence which defines the
argument of it.
Does the source raise any questions you need to answer or have connections to other sources
you have seen? (For example, it supports or contradicts them) If so, name the sources.
The source completely supports the scenario as it is clearly pointing out the ways the then
government pledged to serve humanity.
Conclusion (overall value of the resource and use in the report)
During the British period, a massive war broke out between the Kenyan rebels and the
Britishers. Brigadier Tony Boyce, the chairman of the campaign decided to promote the poor
children and those who were suffering from diseases. Then after few years, Britishers itself
send their workers from Europe to join this foundation. It was a change of morale which the
Kenyan government succeed to do. The most important value used is morale, depicted in this
report.
References
Alexandraki, V., Tsakalidou, E., Papadimitriou, K. and Holzapfel, W., 2013. COMMISSION
ON GENETIC RESOURCES FOR FOOD AND AGRICULTURE.

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Baker-Jones, M.K., 2017. Social Media in Emergencies: An examination of government
accountability for risk communication and warning (Doctoral dissertation, Queensland
University of Technology).
Baughan, E., 2018. Rehabilitating an empire: humanitarian collusion with the colonial state
during the Kenyan emergency, c. 1954-1960. Journal of British Studies.
Beasley, R., 2019. Environmental law: Unlawful and indefensible: Murray-darling basin
authority receives damning report card. LSJ: Law Society of NSW Journal, (54), p.77.
Braddon, A., D'Souza, S. and Hooper, N., 2018. Farm finance fail. Company Director, 34(7),
p.56.
Brady, J., Ebbage, A. and Lunn, R., 2013. Environmental management in organizations: the
IEMA handbook. Routledge.
Brunnengräber, A., Di Nucci, M.R., Losada, A.M.I., Mez, L. and Schreurs, M.A. eds.,
2015. Nuclear waste governance: An international comparison. Springer.
Bush, A. and Pavord, I.D., 2018. The Lancet Asthma Commission: Towards the Abolition of
Asthma?. EMJ, 3(4), pp.10-15.
Came, H., 2014. Sites of institutional racism in public health policy making in New
Zealand. Social science & medicine, 106, pp.214-220.
Chatterjee, K., 2017. Transport lessons from the fuel tax protests of 2000. Routledge.