What Is a Comptroller?

In the United States, a comptroller is a high-level executive who oversees the accounting tasks and financial reporting procedures, usually of a nonprofit organization or government body. The comptroller is responsible for all accounting, including accounts receivable, payroll, and loan transactions. The comptroller also supervises the chart of accounts and the general ledger, which form the basis for the financial 🌊sta🦋tements.

Understanding the Role of a Comptroller

Comptrollers can be thought of as the equivalent of the chief financial officers in nonprofit organizations, government bodies, and businesses, though their role tends to be focused on accounting. Although they can be considered to be slightly senior to controllers, both perform a similar role and have similar responsibilities. In businesses that have comptrollers, the position might report to the chief financial officer or, in smaller organizations, the president or 澳洲幸运5官方开奖结果体彩网:chief executive officer.

A control🅘ler is more frequently found in for-profit ♛businesses while a comptroller is more common in nonprofit organizations and governments. Because comptrollers are common in non-profit and government organizations, comptrollers may be tasked with a significant amount of fund accounting.

Comptroller Responsibilities

Comptrollers manage the accounting staff and maintain a system of internal controls to ensure that fund𒐪s are used appropriately. They maꦫnage the processing of all accounting transactions and countersign expenditures and receipts, including billings, accounts payable and receivable, payroll, collections, and cash receipts. The comptroller also manages budgets and secures loans.

Comptrollers maintain the general ledger and ensure that the financial state👍ments are accurate and comply with the proper f♒ormat and standards. The comptroller is also effectively the chief audit executive, overseeing internal audits and assisting with external audits.

Comptroller Degrees and Certifications

Like controllers, comptrollers typically have a minimum of a bachelor’s degree in accounting. Many comptrollers are certified public accountants (CPAs) or possess a certification as a 澳洲幸运5官方开奖结果体彩网:chartered financial analyst (CFA) or 澳洲幸运5官方开奖结果体彩网:certified management𒅌 accoꦺuntant (CMA). Advanced certification options for comptrollers include 澳洲幸运5官方开奖结果体彩网:certified internal auditor (CIA) and certified government financial manager.

Comptroller Career Outlook

The median pay for a financial manager, which is the closest comparator for a comptroller in the data from the U.S. Bureau of Labor Statistics, was around $156,100 per year in 2023. This career is expected to grow at a rate of 17% through 2033, which is better than most professions.

The Bottom Line

For those with accounting backgrounds, becoming a comptroller can be an opportunity to work in the non-profit sector or for a government body, since those organizations are the most likely to hire a comptroller. However, in some circumstances, such as in certain state governments, the comptroller or controller is a publicly elected or appointed position.

In addition to having public accountability, comptrollers shoulder much of the financial responsibility in an organization because their role is to ensure that funds are spent and accounted for appropriately.