This article explores neoliberalism in Australian universities, in the context of the politics of a higher education 'reform package' introduced by the Liberal-National Party Coalition presently in power in federal government. I focus attention on the relationship between the broader national environment and the local university configuration at the Australian National University and the dialectic between university academics and students as objects of bureaucratic practices and self-auditing subjects in these new modalities of power. I situate the Australian experience in broader global debates about neoliberalism and universities and earlier ethnographies of audit cultures.