ELIGIBILITY

This Team Award celebrates teamwork of the Tax team that has had a positive impact on an organisation's performance. All nominated teams will be invited to present in front of a panel of judges. The presentation will be made up of 1 senior person and 1 team member and will include a video produced by the team. Teams will then go to an online, public vote.

• Nominees are members in good standing with the MAA. At least one person from the team must be a Registered member.
• Nominees may not be a current member of the Awards Committee.
• Nominees may not be employees of Manx Accountancy Awards or current members of their Board of Directors.
• Nominators may nominate themselves.
• Award recipients agree to participate in MAA events and other communication opportunities including in-person speaking, webinars, attendance at other events, writing article/blog for OAMRS etc. as may be requested. The minimum commitment for the year is three hours.
• Due to the distinctive and special nature of each award, MAA reserves the right not to select a recipient in any or all award categories.

Judging Criteria

The awards under this category will be judged against the following key criteria:

• The innovation of the team: Explain how the work of the team has demonstrated innovation.
• Return on Investment: Evidence of the return on investment and how this has been validated.
• Quality of Management: Demonstrate the quality of work and management.
• Impact of the team and teamwork: What was the impact and how was this measured.

QUALITATIVE CRITERIA

Qualitative criteria for the Audit Team of the Year category at the Best Business Awards:

• Expertise and Knowledge: Demonstrates extensive expertise in auditing practices and principles across various industries.
• Accuracy and Attention to Detail: Exhibits meticulous attention to detail in audit procedures, ensuring accuracy and reliability of audit findings.
• Team Collaboration: Works cohesively as a team, leveraging individual strengths to deliver comprehensive audit solutions.
• Innovation: Introduces innovative audit methodologies or tools that enhance audit efficiency and effectiveness.
• Client Focus: Prioritises client satisfaction by delivering insightful audit reports and recommendations tailored to client needs.
• Professionalism: Upholds high professional standards, ethics, and integrity throughout the audit process.

METRICS

The metrics that can be used to evaluate the "Audit Team of the Year" for the Best Business Awards:

1. Overall Quality (5%)

   • Consistency in delivering high-quality audit work.
   • Accuracy and reliability of audit findings.
   • Feedback from clients and stakeholders indicating satisfaction with audit outcomes.

2. Technology (15%)

   • Utilisation of advanced audit tools and software.
   • Integration of technology to enhance audit efficiency and effectiveness.
   • Innovation in audit methodologies through technological advancements.

3. Process (20%)

   • Efficiency of audit procedures measured by turnaround times and resource utilisation.
   • Adherence to audit standards and regulatory compliance.
   • Implementation of continuous improvement initiatives in audit processes.

4. Customer Experience (15%)

   • Client satisfaction scores based on surveys or feedback.
   • Effectiveness in addressing client needs and concerns during audits.
   • Communication skills and responsiveness throughout the audit engagement.

5. People (15%)

   • Team cohesion and collaboration among audit team members.
   • Professional development and training initiatives for audit staff.
   • Employee satisfaction and retention rates within the audit team.

6. Challenges (20%)

   • Successful handling of complex audit challenges or issues.
   • Adaptability to changes in audit requirements or unexpected situations.
   • Evidence of innovative approaches to resolving audit difficulties.

ADDITIONAL CRITERIA

The judges will be looking for evidence that demonstrates how the teams meet the following criteria:

• Clearly communicate why they are worthy winners
• How their achievement fits with their organisation's purpose
• How they have positively impacted their organisation
• Adaptability - How have they adapted their approach/behaviour to achieve what they have?
• What have they overcome to achieve this?
• Communication - How have they shared their goals with the organisation and other team members?
• Collaboration - How has the team involved other departments in their organisation to avoid a silo approach?
• Innovation - How, as a team would they define innovation and how they have used innovation in achieving their goals?
• Appreciation - When and How have they acknowledged everyone's involvement?