A Sydney accountant who siphoned $43 million from her employer and then embarked on lavish spending sprees at the city's top jewellery and perfume stores has had her sentenced cut by a year on appeal.

In the largest case of fraud by a woman in NSW history, Rajina Rita Subramaniam repeatedly took tens of thousands of dollars from ING Australia, where she was an accountant for more than a decade.

Sentence cut: Rajina RIta Subramaniam. Credit:Janie Barrett

The 45-year-old from Castle Hill spent the money on seven prestige properties - including four units on Bondi Beach's exclusive Campbell Parade - 600 pieces of designer jewellery, and 200 perfumes and make-up items. But then she barely touched them.

When ING finally twigged to the fraud and called police, officers from the fraud squad discovered many of the luxury items still in their boxes stashed under her desk, with none of them in her personal possession.