ACCM 4600 Accounting Theory: Analysis of the Royal Commission Report

This assignment analyzes the Royal Commission reports, established to oversee banking rules and regulations and address misconduct in the banking and financial services sector. The report delves into the purpose and audience of the commission, key decisions made, and informational insights crucial for decision-making. It examines the impact on customers and highlights key financial decision keywords. The report also presents the author's credentials, intended audience, arguments, and supporting evidence. The case study focuses on the impact of the BRC commission on financial institutes, banking, mortgage loans, and the general public. Furthermore, the assignment concludes with the overall value of the resource and its utility within the report, emphasizing the significance of the new rules and techniques in the context of finances and superannuation funds. The intended audience includes financial institutions, banks, and mortgage authorities.

Running head: ACCOUNTING THEORY
Accounting theory
Name of the student
Name of the university
Authors note

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Executive summary:
The study deals with the key audience of the BRC royal commission reports. Along
with the purpose, key audience, key decisions of the report. The study also deals with the key
decisional takeaways with a suitable concussion at the end.

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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
the purpose of the report is to understand the three stages of overview the BRC aims to

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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
other hand the management have clarified that the fallings are on the verge of extension to the

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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
regulators and commonwealth banks over the financial planners have been charging fees to
the dead clients.

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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
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

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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.).
Full citation of resource
The Federation. (1962). Brief for presentation to Royal Commission on Banking and
Finance. Toronto.
[The Commission]. (1933). Report of the Banking Commission of Maryland. [Baltimore,
Md.?].
U.S. Securities and Exchange Commission. (2005). Banking regulators. [Washington,
D.C.].
Author’s credentials
The article highlighted that the royal commission had a huge overall impact on the banking
rules and regulation as a whole.
On the other hand the authors of the articles have also provided an in depth knowledge
about the BRC rules and regulations for the process. The study have also provided an idea
about the direct and indirect impact of the BRC royal commission and the possible changes
to be implemented there on.
Author’s intended audience
The intended audience for the report are the financial institutes, banks and other mortgage
authorities.

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Author’s argument(s)/main idea(s)
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.
What evidence is provided to support the argument/idea? Give specific examples
The specific evidence related to the report is the report of royal commission which used
made to see the impact of royal commission over financial institutes, banking and the
mortgage loan department. And also the impact on the general people regarding this.
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 main question it arises are –
How the BRC royal commission will impact on the current financial status of the country?
What will be the impact of the commission?
Conclusion (overall value of the resource and use in the report)
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.
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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