Cosmopolitan editor Bronwyn McCahon says she regrets that her magazine didn't more thoroughly investigate Belle Gibson before presenting her with its Fun Fearless Female Award in Sydney last year. But she says the award - which is given to inspiring women in times of 'triumph and adversity' - won't be taken off Ms Gibson, despite the Whole Pantry founder's admission of lying about her cancers. 'She was reader nominated and reader-voted,' McCahon said on the Dan and Maz 2DayFM breakfast show this week following Belle Gibson's Australian Women's Weekly interview in which she admitted she had lied, according to the Daily Telegraph. 'Obviously, if we knew then what we know now, we would never have awarded her,' she said. Scroll down for video . 'We would never have awarded her': Cosmo editor Bronwyn McMahon says she wishes her magazine had better investigated Belle Gibson, who created The Whole Pantry wellness movement, before awarding her the 2014 Fun Fearless Female Award . 'If we had our time over again, we would probably look into it further but what do you start doing? It's a competition where readers are nominating people that they're inspired by,' McCahon said on air. 'Thankfully she didn't win the role model category, she won the social media.' Gibson, 23, created a social media empire and  The Whole Pantry movement on the story of her remarkable cancer survival. Her wellness app and clean-eating cookbook promised to help her 300,000 plus followers live 'the whole life.' But doubt was cast over story when media investigations in March revealed the wellness guru had failed to hand over money raised through social media to five charities as promised. Close friends also raised concerns about her survival claims and Gibson admitted her cancers may have been 'misdiagnosed.' Gibson's wellness app and The Whole Pantry cookbook promised to help her 300,000 plus followers live 'the whole life . Cosmo Australia editor Bronwyn McCahon has said she regrets that her magazine didn't more thoroughly investigate Belle Gibson before presenting her with its Fun Fearless Female Award in last year . Gibson told AWW her cancer lies stemmed from a troubled childhood, saying she was estranged from her mother and didn't have toys as a child . The Whole Pantry app founder had said she was not scared of death but  'heartbroken' at the idea of leaving her son Olivier . McMahon said Gibson made a convincing and moving acceptance speech at the awards ceremony in November last year. 'She got up and gave that amazing speech. You guys were there. She had all of us in tears. She was very believable and I think we all wanted to believe her,' she said. 'I mean who’s going to question when someone is talking about that they’ve got cancer and they’re going through this horrendous life experience?' 'I created the the world's best health, fitness and lifestyle app - and through that we are changing lives,' Gibson  said in her acceptance speech at the Cosmo awards last year . In her speech, Ms Gibson said she was 'incredibly honoured' that people wanted to share her life. 'I dedicate this award to everyone of you who do follow me on Instagram or through the Whole Pantry because through that, I created the the world's best health, fitness and lifestyle app -  and through that we are changing lives,' she said. This week, in an interview with the Australian Women's Weekly, Gibson admitted she never had cancer. 'No. None of it’s true,' she said. 'I am still jumping between what I think I know and what is reality. I have lived it and I’m not really there yet.' Gibson told AWW her lies stemmed from a troubled childhood, saying she was estranged from her mother and didn't have toys as a child. 'She needs now to get help and move through this,' Cosmo editor Bronwyn McMahon says of Belle Gibson . McCahon said the 'whole foundation' of Cosmopolitan magazine is about 'empowering women and supporting the sisterhood' at the same time as she was explaining why GIbson will be allowed to keep her award. 'I also am very cautious of where everybody goes from here. Obviously what Belle did is terrible and it’s irresponsible and it’s all of those things but she’s also now getting this lashing of bullying and the last 48 hours would have been horrendous for her. She needs now to get help and move through this,' she said on air. 'What she doesn’t need now is the whole of Australia ganging up on her and bullying her ... even though everyone has the right to feel misled and duped.'
Belle Gibson was awarded Cosmo's Fun Fearless Female Award last year . Bronwyn McCahon wishes her magazine had better investigated Ms Gibson . Despite her cancer lies, Cosmo won't strip Gibson of the prize . 'What she doesn’t need now is the whole of Australia ganging up on her and bullying her,' McCahon says .