The purpose of this chapter is to provide a review of the literature pertinent to the topic of the research with the aim of locating the research within the extant literature. Firstly, the chapter provides a broad overview of literature on the nature of performance measurement systems (PMSs), their purposes, and use within organisations. The chapter also reviews relevant literature that explores and examines how and why PMSs change within organisations. In particular, based on this literature the chapter describes why organisations have become increasingly interested in changing their PMSs, the factors that have influenced them to do so, and their responses to pressures for change. Secondly, the chapter reviews literature on changes in the banking industry over the last few decades and the pressures placed on banks to change their systems and procedures, including internal controls such as PMSs. The review of the literature on the factors that could influence banks to change their PMSs and the banks’ responses to change will be used to develop the analytical framework (in Chapter 3) used to examine PMS change in the bank investigated.