Fit for the future series

Our Fit for the future series is dedicated to ensuring Australia and its next generation of leaders remain fit for the future. The series combines broad economic thinking with valuable insights on a range of business and social issues.

• Walk the line: Discussions and insights with leading audit committee members

  

  'Walk the line: Discussions and insights with leading audit committee members' (PDF 895KB)

  The function of the audit committee has come under the spotlight recently with the expectation for greater transparency and corporate accountability by the investor community on the increase. Produced in conjunction with the Financial Reporting Council in the United Kingdom and the Institute of Chartered Accountants of Scotland, the paper provides insights from a series of interviews with audit committee chairmen of publicly listed companies about the role and challenges facing audit committees.

• Early warning systems: can more be done to avert economic and financial crises?

  

  'Early warning systems: can more be done to avert economic and financial crises?' (PDF 443KB)

  Financial crises typically have two components: a trigger and an underlying vulnerability. Although the trigger and timing of a crisis are difficult to predict, the underlying vulnerability should be detectable. This paper sets out the context of financial crises with the aim of stimulating discussion on developing an effective early warning system.

• Reforming international financial regulation

  

  'Reforming international financial regulation' (PDF 622KB)

  The global economic downturn revealed that macro-economic policy and prudential supervision were not adequate to ward off systematic crises in the international financial system. As such, international financial regulators are moving to tighten regulations and raise standards. The challenge for Australia is to identify what changes need to be made and to what extent.

• Challenges for the next generation of Australians

  

  'Fit for the future: Challenges for the next generation of Australians' (PDF 555KB)

  In his paper for the Institute, Saul Eslake, one of Australia’s leading economists, identifies six issues which are integral to future growth and are required to be managed and addressed in order for Australia to continue to reap the benefits of its distinctive position.