Welcome to Lal Balkaran

INTERNAL AUDIT

CORPORATE GOVERNANCE

RISK MANAGEMENT

Lal Balkaran is a Certified Internal Auditor, Fellow Certified General Accountant, Fellow of the Chartered Institute of Management Accountants, and an MBA from the Edinburgh Business School.

Mr. Balkaran, a long-time IIA member, has written several books and articles on internal auditing and related subjects published across the globe and has more than twenty five years of internal auditing experience. Perceived as an internal audit leader, Mr. Balkaran is a Past President of the IIA-Toronto and sits on the IIA Global CREA and Internal Auditor Editorial Advisory Board. He is also the Canadian IIA’s 2010 Arthur Child’s Distinguished Service in Canada Award recipient for outstanding and exceptional service to the profession of internal auditing.


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Industry Experience

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Industry Experience

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Key areas of my wide experience are as follows:

Industry Experience:

Telecommunications
Healthcare
Financial Institutions
Mining
Crown Corporations
Broadcasting
Not-for-profit

Internal Auditing

Quality Assurance Reviews (QARs) of Internal Audit Functions

QARs done for: large banks, pension plans, mining companies, and telecommunication companies.

General Internal Auditing

Established Internal Audit Departments for several clients including a federal crown corporation.
Led several outsourced and co-sourced audits that covered governance, contracts, product development, manufacturing, procurement, sales, marketing, human resources, financial reporting, general ledger, accounts payable, accounts receivable, inventory, etc.
Performed various complex, technical, operational, financial, and special audits.
Streamlined and prepared Audit Committee reports.
Presented to Audit Committees.
Developed and maintained Internal Audit Manuals.
Trained, developed, and mentored audit staff members.

Miscellaneous

Researched and developed proposals.
Streamlined internal auditing methodologies, tools, and templates.
Spearheaded a Knowledge Management Initiative.
Developed, built, and maintained an Internal Audit Library.
Conceived and organized the annual joint IIA-Toronto/ICD Audit Committee Chair Roundtable to discuss current issues in governance and internal auditing.

Healthcare Internal Auditing and Consulting

Spent six years as a Senior Internal Auditor and Management Consultant at two large hospitals in Ontario.
Performed various healthcare operational internal auditing throughout these hospitals that resulted in significant cost savings.
Compiled policy and procedure manuals for several functional areas to help in accreditation.
Implemented a VISA Purchasing Card System for small-dollar-high-volume items for one large hospital.

Telecommunications Auditing (over 10 years)

Performed access charges audits (biggest operating expense in a telecom company).
Did technical audits of the network operating systems, switching, internet, and wireless areas.
Carried out several financial and operational audits of the various business units.
Performed revenue assurance audits that resulted in plugging leakages in revenue.

Financial Institution Experience (Over six years)

Carried out various operational and financial audits in the Savings, Investments, Loans, Mortgages, Securities and Trust areas of National trust.
Performed Treasury Audit including Foreign Exchange and Domestic Money Management.
Performed reviews of risk management and capital markets models.
Performed SWIFT Payments, Current Accounts, Vostro and Nostro Accounts, and Account Reconciliations of Global Operations Services.

Public Sector Experience

Managed the Finance Department of a broadcasting entity (a crown corporation).
Developed Corporate Policy and Procedure Manuals for two crown corporations.
Trained internal auditing and senior management staff of several ministries in the government.
Performed a strategic risk assessment for a federal crown corporation and a healthcare foundation in Ontario.

Institute of Internal Auditors Activities

IIA member since 1987 and active with the IIA-Toronto and IIA Global ever since. Twice elected as President of IIA-Toronto and now an honourary member.
Member of the Board of Research and Education Advisors of the IIA Global.
Member, Editorial Advisory Board, Internal Auditor.
Former member of the Internal Audit Committee of the Treasury Board Secretariat of the Government of Canada.
Established an IIA Chapter in my native Guyana in 2000.