The Danica Prize
The Danica Prize puts the spotlight on the best and brightest thesis within auditing and external accounting. It celebrates the most excellent/outstanding MSc accounting students with an award ceremony and a formal dinner at the Odd Fellow Palace in Copenhagen in the presence of fellow students, family, professors and distinguished profiles within the audit profession.
Yearly, the committee rewards the best master thesis of the year from the MSc accounting program. First prize consists of 30,000 DKK, second prize of 20,000 DKK and third prize of 10,000 DKK.
All master theses written within the main subjects of auditing and external accounting, which have received either a 10 or a 12, are eligible for submission.
In 1991, FSR - Danish Auditors (former REVIFORA) held the first award show in cooperation with Danica Pension as head sponsor.
The purpose of the Danica Prize
Auditing and external accounting are the foundation of whether or not the annual reports published by the companies give a true and fair view. Furthermore, the annual reports should also contribute useful knowledge about the company to the reader, which can be used as basis for decision-making e.g. for commerce, lending credit or investments amongst other things.
In other words, the purpose of the Danica Prize is to highlight auditing and external accounting.
Research and innovation are important factors when expanding this field and thereby increasing the already existing knowledge and secure a high standard in the companies’ external reports, as well as in the nearly 200,000 audits the accountants also carry out for the companies.
The committee judge the master theses on their level of innovative thinking, documentation of new initiatives, suggestions of improvement within work methods and forms of reporting.
The winners of the Danica Prize will afterwards write a professional article based on their master thesis and thereby share their knowledge with a larger circuit of stakeholders. The articles will be published in one of FSR - Danish Auditors medias e.g. INSPI.