What is a controller in accounting?

Controllers oversee accounting departments that do auditing work, financial forecasting, and putting together financial statements. Some other tasks they might be in charge of include conducting payroll, managing investments and expenses, and accounting for internal finances, such as transaction data.

Here are some other typical duties of a controller:

• Planning, directing, and coordinating all accounting operational functions

• Managing the accumulation and consolidation of all financial data necessary for an accurate accounting of consolidated business results

• Coordinating and preparing internal and external financial statements

• Coordinating activities of external auditors

• Providing management with information vital to the decision-making process

• Managing the budget process

• Assessing current accounting operations, offering recommendations for improvement, and implementing new processes

• Evaluating accounting and internal control systems

• Evaluating the effectiveness of accounting software and supporting database, as needed

• Developing and monitoring business performance metrics

• Overseeing regulatory reporting, frequently including tax planning and compliance

• Hiring, training, and retaining skilled accounting staff

The average salary of a controller in the United States is $103,604.