1. CA Dr. Nalayiram Subramanian
M.Com., FCA, CISA (USA), Ph.D.,
Chartered Accountant and Certified Information Systems Auditor
G2, Sun Rays Apartments, 25 Jayalakshmipuram 2nd
Street, Nungambakkam, Chennai – 600034, Tamil
Nadu, India Tel: +919790853099: email:- nalayiram@hotmail.com DOB: 05/05/1962
Summary
• Education: (a) Doctorate in Finance (b) Chartered Accountant (c) Certified Information Systems
Auditor (CISA), from ISACA, USA preceded by Post Graduation in Commerce
• Programs Attended: One Week Workshop on IFRS for SMEs conducted by the IASB in Hyderabad
• Experience of around thirty years in Financial Accounting and Reporting (AS, IFRS and IndAS),
Management Accounting, Management Control, Financial Planning and Analysis, Audits (Statutory,
Internal, Systems, Forensic & Management Audits), Risk Identification, Minimization and Risk
Mitigation. Effectively performed in Cross cultural environments in different Industries including
Multinational Organizations in India and abroad – Kenya, Australia and UAE. Includes turn around
of sick unit including financial austerity program.
• Designing and Implementing Effective Management Control Systems including Development of
Vision and Mission Statements
• Implementation of Effective VAT Governance Systems for top business entities in the United Arab
Emirates, Due diligence and Valuation as per the reference by the High Court / NCLT in connection
with Amalgamation of Business Entities.
• Performed Statutory Audit, Revenue Audit, Concurrent Audit and Special Audits of Banks and
Insurance Company as a Lead Member and as Auditor, as per reference from the Central Banker
(Reserve Bank of India) and the IRDAI (Insurance Regulatory and Development Authority of India)
• Information Systems / Technology: CAAT, Design and Development of Data Base Systems in MS
Access. Developed a Compliance Systems Review Tool in MS Access in relation to a Bank Audit,
Design and Development of MS Excel and VBA for Excel Based Financial Models by applying MS
Excel Macros and VBA Programming.
• Authored a Book titled "Contemporary Financial Accounting and Reporting for Management - a
holistic perspective", (with Focus on FR Standards such as Ind AS, IFRS, US GAAP, Projected FS,
Financial Modelling) that has been prescribed as a reference book by reputed universities in India
at the Master's Level. The book has been independently peer reviewed by Experts and Foreworded
by Regulators and Central Bank Officials.
• Headed Faculty of Finance, Accounting and Controls in reputed B School & visit as a guest faculty
in Renowned B Schools such as St. Francis Institute of Management and Research, National
Institute of Industrial Engineering, Mumbai University, Mumbai, Asian School of Business,
Trivandrum and other top business schools. Seminar resource person for Chartered Accountants,
Management Institute Faculty, Management Development Programs, Management Associations
• Writes Articles of Professional Interests in Magazines and Journals
• Professional Memberships – FCA - ICAI, ISACA and MMA
• Conducted around 70 Seminars as a RP in Management Institutes and PG Institutes on Capital
Markets, sponsored by the Ministry of Corporate Affairs, conducted by the ICAI
• https://www.thehindubusinessline.com/portfolio/personal-finance/book-review-a-ready-
reckoner-for-beginners/article9871363.ece
• https://alliance.edu.in/web/alliance-university-faculty-
profile.php?id=cf20bc9abd22e515c26466da23601969
2. Employment History
Implementation of VAT in UAE
Manager -Audit, Assurance and Taxation (VAT Impact Assessment & Implementation of VAT Governance
Systems)
Dubai, Dubai
October 2017 – April 2018
Designing Management Audit Systems & Implementation of Value Added Tax Governance Systems -
Interpretation of VAT Law and Executive Regulations Provisions, Business Impact Study, Providing
Guidance to the VAT Implementation Teams and the Members of the Teams with respect to VAT Law
Provisions, Preparation of Road Map, Designing and Building Controls, Preparation of Organizational
Management and Staff to Comply with the VAT Governance Requirements and Conducting Training on
VAT, Due Diligence Review, Business Valuation Advisory, preparation of Proposal on ESCA Audits,
Writing Articles on VAT Law and the Executive Regulations
S Nalayiram & Associates
Chartered Accountant
November 2010 - September 2017 & Current
Audits (Internal, Statutory, Systems, Forensic & Management Audits), Project Viability and Financial
Feasibility Studies, Preparation of Financial Models and Budgets (MS Excel and VBA for MS Excel Based),
Design and Implementation of Corporate Governance and Internal Control Systems, Setting up Limited
Liability Companies, Partnership Firms, Shareholder Agreements, Evaluation of Top Management
Performance by way of Management Audits, Strategy Formulation and Implementation, Management
Development, Corporate Development and Faculty Development Programs on Strategies, Financial and
Performance Analysis, Design, Development and Deployment of Metrics Based Performance Evaluation
Systems, Review of Financial Reporting and Management Reporting Systems based on GAAP such as IFRS,
IndAS, IAS, Gap and Variance Analyses, Suggesting Measures, Obtaining Top Management Acceptance,
Plugging Loopholes and Strengthening the Management Control Systems, Process Efficiency and Process
Flow Reviews, Risk Identification, Minimization and Mitigation, Intellectual Capability Development and other
relevant Financial & Management Accounting and Consulting Services to Business and not for Profit Entities,
Academic Institutions, Banking and Financial Institutions, Government Business Entities, Advisory Service
relating to Valuation of Business Entities, Conducting Regulatory Sponsored Financial Reporting and
Management Control Systems reviews. Performing Systems Review based on CAATs. Designed and
Developed an Audit Tool for CPAs. Compliance Services such as Compliance with Corporate Laws
including Direct Tax Laws, Compliance with Goods and Service Tax and Value Added Tax and Rules, Acting
as Due Diligence Auditor for Regulatory Authorities and Highest Courts of Provincial Laws.
Independent
Management Consultant
September 2008 - October 2010
Advising on Business Set up and formation of Companies, Financial Analysis, Capital Market Analysis,
Rendering Financial Accounting based on GAAP such as IFRS, Ind AS, IAS and Managerial Accounting
Services to Business Entities, Business Performance Review, Preparation and review of Annual and
Periodical Budgets, Compliance Services with respect to Value Added and Other Tax Laws such as Sales
Tax, Service Tax & Corporate Income Tax Laws, Project and Financial Feasibility Studies, Management
and Corporate Development training Programs, Visiting Business Schools as Faculty in Corporate Finance,
Management and Financial Accounting, Finance, Conducting Government Sponsored Programs on
Capital Markets etc.,
Intercontinental Hotels Group
Manager - MIS and Metrics
April 2005 - August 2008
Review of Operating, Revenue and Capital Expenditure Budgets of around 100 Hotels of Intercontinental
Hotels Group spread across the Asia Pacific Region on a periodical and annual basis, Forecasts, co-
ordination and advising Financial Controllers, Variance Analysis and Management Reports, Forecasts,
design and development of Excel Based Systems to Capture Metrics, Monitoring Service Level
Agreements, Co-ordinating DR and BCP Plans etc., Developed VBA for MS Excel based Applications.
Successfully transitioned the Management Reporting MIS Process from Australia.
3. Business Schools
(Post Graduate)
St Francis Institute of Management and Research
Head of Faculty - Finance, Accounting and Controls, Resource Person for Strategy Formulation and
Performance Management
Mumbai, Maharashtra
July 2002 - March 2005 & August 2008 -Oct 2009
Heading the Faculty of Finance, Accounting and Controls, Guidance and Co-ordination for Applied and
Fundamental Research, Guiding MBA Students of Finance, Information Systems and Strategic
Management disciplines regarding Industry relevant projects.
Subjects taught: Advanced Financial Management, Corporate Finance, Strategic Cost Management,
Management Control Systems, Financial Accounting and Reporting, Information Systems Audits &
Taxation
Corporate Trainer, Management Audit of Large Non-Profit Organization, Business Compliance Services,
Research on Capital Markets etc.,
National Institute of Industrial Engineering
Mumbai, Maharashtra
July 2002 - March 2005 & August 2008 -Oct 2012
Visiting faculty of the Institute teaching Accounting & Finance to PGDIM and PGDIE Program Students for
Seven Years
Asian School of Business
Trivandrum, Kerala
2015- 2016
Visiting faculty of the Institute teaching Accounting & Finance to PGDM Program Students.
Intercontinental Hotels Group
Financial Controller
Vadodara, India
December 1999 - December 2001
Financial Control, Business Support, Management Information Systems, Tax Compliance and
Management and Corporate Reporting, Design and Establishment of Effective Internal Control Systems,
Cost Control and Revenue Analysis, Risk Management, Co-Ordination of DR and BCP Plans. Periodical
and Running Budgets, Forecasts, Performance Review and Support for Financial and Bottom Line Growth.
Travellers Tiwi Beach Hotel
Group Financial Controller
Mombasa, Kenya
July 1997 - December 1998
Financial Control and Business Support Functions. Co-Ordination for Business Plans, Business Process
and Master Budgets, Review of Performance, Cost Control, Design and Implementation of Effective
Internal Control Systems, VAT Compliance and MIS. Effective handling of Finance during crisis.
Hotel Shreelekha Intercontinental Limited
Financial Controller
Chennai, India
January 1994 - June 1997
Financial Control - Coordination of Preparation of Business Plans, Annual and Periodical Budgets - CapEx
and OpEx, Financial Accounting and Reporting based on GAAP, Corporate Laws Compliance,
Management Reporting, Co-Ordination of Meetings of the Board of Directors, Compliance with Corporate
Laws, Business Valuation, Preparation of Financial Models, Shareholders Agreements, Co-Ordination with
Financial Institutions, Preparation of Appeals before Tax Authorities - Sales / VAT and Income Tax,
formation of Limited Liability Companies, Preparation of Memorandum of Association and Articles of
4. Association, Incorporation of Companies, Partnership Firms, Tax Planning and Tax Compliance,
Performance Review and Business Support Functions, For Ex Control etc.,
Hotel Shreelekha Intercontinental Limited
Assistant Manager - Accounts
Chennai, Tamil Nadu
December 1991 - December 1993
Management of Financial, Cost and Management Accounting functions. Supporting the Financial
Controller in Budgeting process and performance review, Revenue and Cost reports and submission to the
Management, Tax and Corporate Laws Compliance, preparation of MIS reports, Financial Statements
preparation and Analysis and monthly / quarterly performance reports.
PB Vijayaraghavan & Company, Chartered Accountants and Chemicals and Plastics
Industries Limited
Internship
Chennai, Tamil Nadu
December 1987 - November 1991
Pursued Chartered Accountancy course (CPA) as Article Assistant and Industrial Trainee. Performed
audits and review of various types of Entities, compliance reviews, financial reporting and controls review,
design and implementation of Financial, Cost Accounting and Management Accounting Systems,
preparation and filing of returns under the VAT Laws, Income tax laws etc.,
Wilson and Company Limited
Accountant
Chennai, Tamil Nadu
December 1984 - October 1987
Materials Cost Control and General Ledger Accounting. Preparation of Materials Consumption reports,
variance analysis and maintenance of General Ledger Accounts.
Hobbies & Interests
Playing Chess, Meditation, Writing Blogs and Articles in Linked in.
Professional Skills
MS Excel: Advanced
VBA for Excel: Advanced
Development of CAAT in MS Access: Advanced
Design and Development of Financial Models: Expert
Authoring Book: Expert
Speaker in Management Associations and Professional Bodies: Expert
Languages
English: Fluent
Tamil: Native
5. Malayalam: Conversational
Hindi: Conversational
References
Mr Radhakrishnan Nair – Formerly Member of Insurance Regulatory Development
Authority of India and Executive Director – Securities and Exchange Board of India
Mr. Subramania Kumar, Managing Director, Indian Overseas Bank
Independent Peer Reviews carried out about my book are given below:
MS Kavita Mendonca Economist at the US Consulate, Mumbai, speaking during the Review of my
Book at St. Francis Institute of Management and Research, Mumbai, India
Review by The Indian Banks’ Association and Published in the Indian Banker Journal in August 2015
Edition
6.
7.
8. Review by The Corporate India Journal, and published in their February 2016 Edition
9. Review by Prof. Dr. V Bala Balachandran, North western University & Dean The Great Lakes
Institute of Management, Chennai
10.
11. Review by The Hindu Business News Line Research team, published in their Sept. 25, 2017 Edition
(page 10), India
12. An article written by me on “Integrated Financial Modeling” which the FHRAI (Federation of Hotels
and Restaurants Association of India) published in Feb 2017 of their series.
13. Receiving a memento from Shri MG Devasahayam IAS (Retd.), (Secretary to the Union Government
of India) after delivering an address in a workshop on ‘Tools of Good Governance and
Accountability’, organized by the Madras Management Association, (MMA) and sponsored by the
Transparency International India. Sharing the dais with Dr. Shri. Swaminathan, IAS (Retd), Former
Finance Secretary, Government of Tamil Nadu, India.
16. Papers Presented:
• Comparative analysis of treasury management practices-m/s TamilNadu newsprint and papers
limited vs. M/s Seshasayee paper and boards limited, Special Issue for International
Conference on Business Research, Dept. of Commerce, Faculty of Science and Humanities
SRM Institute of Science & Technology, Kattankulathur, Tamilnadu. International Journal of
Research in Engineering, IT and Social Sciences (IJREISS), ISSN2250:-0588, Volume 8
(pp10-14), Special Issue, October 2018. (Impact Factor 5.850)
• Financial Performance Analysis of Tamil Nadu State Transport Corporation (Tirunelveli) Ltd.,
National Conference, Department of Commerce, Manonmaniam Sundaranar University.
• Securing Employee Participation and Goal Congruence in Tamil Nadu State Public Sector
Undertakings – a hypothetical illustration presented in the International Conference, organized
by the SRM School of Management, October, 2018
• Paper titled “Financial Performance / Financial Position Analysis of M/S Tamil Nadu Newsprint
and Papers Limited”, Shanlax International Journal of Commerce, Volume 2 (ISSN: 2320-
4168) (pp244-250), Sep 2018 (Impact Factor: 4.118)
