"The concept of these awards (Golden Kela awards) is influenced by the Hollywood's Razzies. It is great to see how people accept their downfall. It more often widens our approach," Cyrus, who will be the chief guest at the awards, told on the phone from Mumbai.
"One should have the spirit to accept failures too with a smile which is an art we need to learn from Hollywood."
Cyrus is excited about the event because for the first time he has been invited as a chief guest.
From actors to politicians to sportsmen, Cyrus has spoofed all of them in his shows. When asked what if any body offended by spoofs at the award function, he said: "I don't think anybody will, I am sure like minded people would turn up and if anybody will be offended, we are ready to apologise. Though we don't expect such audiences."
He says award functions nowadays are high on entertainment quotient.
"The award functions these days are full of humour and are planned in a format that they entertain their viewer's. Entertainment and catching eyeballs has become a key element," he said.
The award function will take place Friday. Some of the actors nominated in the worst male artist category are John Abraham ("New York") and Salman Khan ("Wanted"). Worst female actor nominees are Priyanka Chopra ("What's Your Raashee?"), Kareena Kapoor ("Kambakkht Ishq") and Rani Mukerji ("Dil Bole Hadippa").
Cyrus is one of the lucky few who got an opportunity to explore their talent to the fullest. Lately, he has started writing a column for the DNA newspaper and has also released a book titled "Karl, Aaj aur Kal". The book is a semi-autobiographical comedy about celebrities, Bollywood and politics.
"Writing for newspapers is easier, but its a task to write a book," Cyrus, who is currently busy shooting for "Faking News", and Indian Premier League show on CNN-IBN.