Along with directors Peter Weir and Bruce Beresford, Schepisi he was considered one of the leaders of the "Australian New Wave." His film, "The Chant of Jimmy Blacksmith," was the first Australian film ever accepted in competition in the Cannes Film Festival, and his first film distributed in the U.S. He went on to direct "Plenty," "Roxanne," "A Cry in the Dark," "The Russia House," and "Six Degrees of Separation." His latest film "I.Q." stars Meg Ryan, Tim Robbins, and Walter Matthau.