For a Fair Evaluation

     Print Edition: March 2013

BDO was associated with Money Today FPCIL Awards 2012 as the knowledge partner. Its role was to conduct end-to-end activities starting from defining award eligibility and criteria to reviewing and presenting nomination applications to the jury for selecting the winners.

BDO was appointed for this job for its core competency and experience in award-related events. It used a well-developed CAPA (Contests & Process Assurance) Methodology. CAPA is a unique solution to provide assurance to company managements and other stakeholders on the processes followed for selection of award winners. CAPA involves an integrated review of underlying technology and functional processes for the overall objective of:

>> Fair Selection Criteria
>> Fair Selection Validation
>> Fair Selection Result

VALUE ADDITION

>> A candid and fair selection criteria, methodology and result-oriented process
>> Finance vertical experts defined customised criteria and weights for respective finance verticals, keeping in mind customer satisfaction as the main criteria. Inputs from the jury were also considered for allotting weights to the parameters
>> Independent data verification via search engines, regulatory sites and annual reports along with the data provided by the nominees
>> Data analytics for providing explicit insights into nominees' performance, growth, credibility, etc
>> Holistic and qualitative assessment along with quantitative assessment to select the final winners by considering their governance, risk management practice, etc.
>> Customer focus with high weight (30%) to parameters to evaluate customer perception
>> Involvement of senior officials like the partner and national leader of risk & advisory services to ensure confidentiality




CHALLENGES FACED

>> Defining unique parameters and criteria for different awards categories
>> Analysing and verifying the data
>> Holistic and qualitative assessment in order to ensure that the deserving nominees win

(From Left to Right) Ranjeet Mudholkar, Managing Director, FPCIL, Jury Chairman D Swarup, Chief Guest Justice (Retd) Srikrishna (sitting left), Money Today Editor Chaitanya Kalbag (sitting right), BDO India Chairman S Haribhakti and Cibil Chairman M V Nair

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