Bank bosses and head regulators will be questioned about policy matters at the financial services royal commission's final hearing.
Royal commissioner Kenneth Hayne QC is expected to "apply a blowtorch" to bank bosses over the widespread and greed-driven misconduct in the financial services industry.
The CEOs of the big four banks and AMP are among those appearing at the commission's final public hearing, along with the heads of regulators criticised by Mr Hayne for letting much of the misconduct go unpunished.
They will have to be armed with more than apologies when they appear, beginning on Monday with Commonwealth Bank of Australia CEO Matt Comyn and chairwoman Catherine Livingstone.
Consumer advocacy group Choice CEO Alan Kirkland said Mr Hayne's interim report raised questions about how the misconduct happened that had yet to be fully answered.
"I don't think of any of them have got adequate answers so far," Mr Kirkland told AAP.
"I think that's where he'll be really applying a blowtorch to people like Matt Comyn and Catherine Livingstone from the CBA."
Mr Kirkland said Australia's largest bank blamed pockets of poor culture for the misconduct in a submission at the start of the inquiry, but it was clear there were systemic problems across the industry.
He expects the CEOs to be grilled about how such big systemic problems happened on their watch and what they are doing to stop it happening again.
"The sheer dollars involved that they've already had to refund or set aside for refunds - these are not small mistakes, they're massive systemic errors."
The final public hearing will look at the causes of the misconduct, which the interim report blamed on greed and the pursuit of short-term profit at the expense of basic standards of honesty, and possible responses including regulatory reform.
"I would expect the royal commission will be asking tough questions around what are they going to do to fix their remuneration structures so they're not creating incentives for consumers to be ripped off," Mr Kirkland said.
Australian Banking Association CEO Anna Bligh said the industry has already committed to tackling several key areas, recognising some issues demand immediate action.
It included overhauling staff pay and the treatment of deceased estates, ending fees for no service, reforming commissions for mortgage brokers and supporting legislation to end grandfathered payments to financial advisers.
"Tackling these issues are an important start, however the industry acknowledges that there is more to be done and looks forward to the final report of the royal commission," Ms Bligh said.
Financial Rights Legal Centre principal solicitor Alexandra Kelly expects the bank bosses will be questioned extensively about the culture of putting profits before people.
"I'm hoping that they really get into some of the root and branch difficulties around culture and what is the influence of shareholders and profits before people in the decision making of the CEOs and chairs," she said.
Ms Kelly said there was a risk consumers would view apologies from the CEOs as admissions about something that happened to them personally, which could lead to disappointment.
"I think there's an expectation for consumers for redress," she added.
"Just an apology or a promise to do better might not really satiate some consumers."