What does a Comptroller do?
A Comptroller is the person responsible for a company’s finances. In large companies, the Comptroller has managerial responsibility over accounting staff and operations. It is the Comptroller who oversees accounts receivable, accounts payable, financial planning, reporting and, when working in government, auditing. In small businesses, the Comptroller might be the person performing all the business’s financial tasks. Given that the Comptroller is responsible for making sure a business’s funds are properly spent and accounted for, this job is extremely important to a company’s success.
A Comptroller performs several important duties within a company. Their overall responsibility is the smooth running of the business from a financial perspective. This means making sure there are strategies and controls in place to keep the business in good fiscal health, as well as making sure each employee involved in accounting performs to those standards. The Comptroller is also responsible for conducting internal control audits to be sure the business follows legal and ethical business practices. Other responsibilities include:
• Managing the company's financial transactions
• Developing plans for the company's financial growth
• Preparing the company's financial reports
• Taking part in the budgeting process
• Managing the company's accounting employees
• Providing financial training to employees when needed
• Evaluating and managing financial risk
• Preparing income statements
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