The comptroller is responsible for the accounting operations of a business. The term is somewhat archaic, and has been replaced by the term “controller,” with the exception of the public sector. Since the position is most commonly found in the government sector, the comptroller is more likely to be knowledgeable in fund accounting.
The comptroller position is responsible for the following:
- Manages the entire accounting staff.
- Maintains a system of controls to ensure that assets are used appropriately.
- Manages the processing of all accounting transactions, which is supported by a detailed set of policies, procedures, and forms. Accounting transactions typically include billings, accounts payable, payroll, collections, and cash receipts.
- Maintains a chart of accounts and general ledger, from which are compiled a set of financial statements.
- Assists both internal and external auditors with their examinations of the organization’s financial reports and controls.
The comptroller reports to the chief financial officer position. If there is no chief financial officer, then the comptroller reports directly to the most senior executive position within the organization.