Internal audit department characteristics/activities and audit fees : some evidence from Hong Kong firms

This study provides preliminary support for the notion that internal audit function assists in reducing external audit effort and fees. Data on internal audit characteristics and activities are obtained from survey respondents of Hong Kong companies and audit fee model data are acquired from their annual reports. The results of this study suggest that the external auditor of firms in Hong Kong rely on the internal audit function and subsequently charge a lower fee. Lower external audit fees are associated with a larger internal audit department and certain activities carried out by the internal audit. Specifically, lower external audit fees are associated with more internal audit effort spent on activities relating to financial statements, systems development and maintenance, operating efficiency and effectiveness, fraud investigations and unlimited access to internal auditors’ working papers. The results of this study suggest that the contribution of the internal audit may substitute for some substantive external auditing processes and lower monitoring costs.

Distributed control of gait for a humanoid robot

This paper describes a walking gait for a humanoid robot with a distributed control system. The motion for the robot is calculated in real time on a central controller, and sent over CAN bus to the distributed control system. The distributed control system loosely follows the motion patterns from the central controller, while also acting to maintain stability and balance. There is no global feedback control system; the system maintains its balance by the interaction between central gait and soft control of the actuators. The paper illustrates a straight line walking gait and shows the interaction between gait generation and the control system. The analysis of the data shows that successful walking can be achieved without maintaining strict local joint control, and without explicit global balance coordination.

Evolving a locus based gait for a humanoid robot

This paper describes a process for evolving a stable humanoid walking gait that is based around parameterised loci of motion. The parameters of the loci are chosen by an evolutionary process based on the criteria that the robot's ZMP (zero moment point) follows a desirable path. The paper illustrates the evolution of a straight line walking gait. The gait has been tested on a 1.2 m tall humanoid robot (GuRoo). The results, apart form illustrating a successful walk, illustrate the effectiveness of the ZMP path criterion in not only ensuring a stable walk, but also in achieving efficient use of the actuators.

Influence of iodine value on combustion and NOx emission characteristics of a DI diesel engine

Biodiesel is a renewable fuel that has been shown to reduce many exhaust emissions, except oxides of nitrogen (NOx), in diesel engine cars. This is of special concern in inner urban areas that are subject to strict environmental regulations, such as EURO norms. Also, the use of pure biodiesel (B100) is inhibited because of its higher NOx emissions compared to petroleum diesel fuel. The aim of this present work is to investigate the effect of the iodine value and cetane number of various biodiesel fuels obtained from different feed stocks on the combustion and NOx emission characteristics of a direct injection (DI) diesel engine. The biodiesel fuels were chosen from various feed stocks such as coconut, palm kernel, mahua (Madhuca indica), pongamia pinnata, jatropha curcas, rice bran, and sesame seed oils. The experimental results show an approximately linear relationship between iodine value and NOx emissions. The biodiesels obtained from coconut and palm kernel showed lower NOx levels than diesel, but other biodiesels showed an increase in NOx. It was observed that the nature of the fatty acids of the biodiesel fuels had a significant influence on the NOx emissions. Also, the cetane numbers of the biodiesel fuels are affected both premixed combustion and the combustion rate, which further affected the amount of NOx formation. It was concluded that NOx emissions are influenced by many parameters of biodiesel fuels, particularly the iodine value and cetane number.

AC/DC electrical characteristics of epoxy-multi wall carbon nanotube nanocomposites

Expoxy nanocomposites with multiwell carbon nanotubes (mwcnts) filler up to 0.3%wt were prepared by sheer mixing and good dispersion of the MWCNTS in the epoxy was successfully achieved. The electrical behaviour was characterized by measurements of the alternating current (ac) and direct current (dc) conductives at room temperature. Typical percolation behaviour was observed at a low percolation threshold of 0.055%. Frequency independent ac conductivity was observed at low frequencies but not at high frequencies. An equivalent circuit models was used to predict the impedence response in these nanocomposites.

Lateral shearing interferometry, dynamic wavefront sensing, and high-speed videokeratoscopy for noninvasive assessment of tear film surface characteristics : a comparitive study

There are several noninvasive techniques for assessing the kinetics of tear film, but no comparative studies have been conducted to evaluate their efficacies. Our aim is to test and compare techniques based on high-speed videokeratoscopy (HSV), dynamic wavefront sensing (DWS), and lateral shearing interferometry (LSI). Algorithms are developed to estimate the tear film build-up time TBLD, and the average tear film surface quality in the stable phase of the interblink interval TFSQAv. Moderate but significant correlations are found between TBLD measured with LSI and DWS based on vertical coma (Pearson's r2=0.34, p<0.01) and higher order rms (r2=0.31, p<0.01), as well as between TFSQAv measured with LSI and HSV (r2=0.35, p<0.01), and between LSI and DWS based on the rms fit error (r2=0.40, p<0.01). No significant correlation is found between HSV and DWS. All three techniques estimate tear film build-up time to be below 2.5 sec, and they achieve a remarkably close median value of 0.7 sec. HSV appears to be the most precise method for measuring tear film surface quality. LSI appears to be the most sensitive method for analyzing tear film build-up.