The effect of internal audit function quality and internal audit contribution to external audit on audit fees

Corporate governance mandates and listing rules identify internal audit functions (IAF) as a central internal control mechanism. External audits are expected to assess the quality of IAF before placing reliance on its work. We provide evidence on the effect of IAF quality and IAF contribution to external audit on audit fees. Using data from a matched survey of both external and internal audits, we extend prior research which is based mainly on internal audits' assessment and conducted predominantly in highly developed markets. We find a positive relationship between IAF quality and audit fees as well as a reduction in audit fees as a result of external auditors' reliance on IAF. The interaction between IAF quality and IAF contribution to external audit suggests that high quality IAF induces greater external auditor reliance on internal auditors' work and thus result in lower external audit fees.

Net neutrality in Australia: The debate continues, but no policy in sight

The ways in which Internet traffic is managed have direct consequences on Internet users’ rights as well as on their capability to compete on a level playing field. Network neutrality mandates to treat Internet traffic in a non-discriminatory fashion in order to maximise end users’ freedom and safeguard an open Internet.

An eroding social justice agenda: The case of physical education and health edu-business in schools

In this paper we draw on current research to explore notions of a socially just Health and Physical Education (HPE), in light of claims that a neoliberal globalisation promotes markets over the states, and a new individualism that privileges self-interest over the collective good. We also invite readers to consider United Nations Educational, Scientific and Cultural Organization’s ambition for PE in light of preliminary findings from an Australian led research project exploring national and international patterns of outsourcing HPE curricula. Data were sourced from this international research project through a mixed method approach. Each external provider engaged in four phases of research activity: (a) Web-audits, (b) Interviews with external providers, (c) Network diagrams, and (d) School partner interviews and observations. Results We use these data to pose what we believe to be three emerging lines of inquiry and challenge for a socially just school HPE within neoliberal times. In particular our data indicates that the marketization of school HPE is strengthening an emphasis on individual responsibility for personal health, elevating expectations that schools and teachers will “fill the welfare gap” and finally, influencing the nature and purchase of educative HPE programs in schools. The apparent proliferation of external providers of health work, HPE resources and services reflects the rise and pervasiveness of neoliberalism in education. We conclude that this global HPE landscape warrants attention to investigate the extent to which external providers’ resources are compatible with schooling’s educative and inclusive mandates.