In bacteria the AUG (or other) codon at which translation of mRNA is initiated is preceded at a precise distance by a sequence known as the Shine and Dalgarno sequence, to which the 30S subunit initiation complex binds through base pairing of the 16S rRNA.
In eukaryotes, in contrast, the 40S initiation complex normally binds to the 5′-cap of the mRNA and scans until it reaches the appropriate AUG codon — usually the first. Marilyn Kozak, who originally proposed this model in 1978, updated it later to try to account for the approximately 10% of eukaryotic initiations that do not occur at the first AUG. She identified a consensus sequence surrounding initiating AUGs and suggested that this was important in their selection. (see Wikipedia article entitled Kozak Consensus Sequence).
What is the current status of this consensus sequence now that so much more sequence and transcript data are available? Is there any evidence as to how it might function, e.g. by interaction with 18S rRNA in a similar manner to the Shine and Dalgarno sequence?