The award for Outstanding Industry Contribution is decided by British Accountancy Awards judges and the winner is announced on the night.
The award for Outstanding Industry Contribution is decided by British Accountancy Awards judges and the winner is announced on the night. It is not a category for which entries can be submitted, nor is a shortlist published.
Jimmy Daboo was given the Outstanding Industry Contribution award in recognition for breaking new ground in audit by publishing details of his findings during the audit in some of his audit reports, including that of Rolls Royce – a move which goes beyond minimum regulatory requirements. As a result of the positive reception this approach has received, KPMG has now invited all its listed client companies to include the firm’s findings in so-called ‘long-form’ audit reports, which are published in a listed company’s annual report.
Kevin Reed, editor of Accountancy Age which organises the British Accountancy Awards said:
“I was delighted to present Jimmy Daboo with the Outstanding Industry Contribution award at last night’s awards. Jimmy’s revolutionary approach to audit reporting is a prime example of one of the ‘big guns’ of the profession standing up to be counted; driving transparency and change in an effort to make an audit a more worthwhile, useful and transparent service.”
“If Jimmy’s attitude and ideas are taken forward, the traditional ‘pass or fail’ approach to an audit report will disappear. This pioneering approach to audit has generated great admiration from the wider business community and stakeholders and, as such, deserves recognition.”
“I am enormously proud of Jimmy and of our other shortlisted colleagues. Winning a British Accountancy Award is a huge honour and to receive the Outstanding Industry Contribution award is a great achievement.
“I am really excited about the contribution the accounting profession, and in particular, our firm, can make to improving UK corporate governance. The economic crisis has been painful, with many companies and society as a whole still picking up the pieces. I believe passionately that the audit profession can be a part of the solution and I am delighted to see Jimmy being recognised for his work in helping to achieve this.”
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Margot Cowhig, KPMG Corporate Communications
T: +44 (0)207 694 4246
M: +44 (0)7920 274856
Jess Liebmann, KPMG Corporate Communications
T: +44 (0)20 7311 3245
M: +44 (0)7551 135778
KPMG Press Office: +44 (0)207 694 8773
KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 11,500 partners and staff. The UK firm recorded a turnover of £1.8 billion in the year ended September 2013. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 155,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.
This article represents the views of the author only, and does not necessarily represent the views or professional advice of KPMG in the UK.