Acomptroller (pronounced either the same ascontroller or as/kəmpˈtroʊlər/) is amanagement-level position responsible for supervising the quality ofaccounting andfinancial reporting of an organization. A financial comptroller is a senior-level executive who acts as the head of accounting, and oversees the preparation of financial reports, such as balance sheets and income statements.
In mostCommonwealth countries, thecomptroller general, auditor general, or comptroller and auditor general is theexternal auditor of the budget execution of the government and ofgovernment-owned companies. Typically, the independent institution headed by the comptroller general is a member of theInternational Organization of Supreme Audit Institutions. In American government, the comptroller is effectively thechief financial officer of a public body.
Inbusiness management, the comptroller is closer to achief audit executive, holding a senior role ininternal audit functions. Generally, the title encompasses a variety of responsibilities, from overseeingaccounting and monitoringinternal controls to countersigning on expenses and commitments.
The word is a variant of "controller". The "cont-" or "count-" part in that word was associated with "compt-", a variant of the verb "count". The term, though criticized bylexicographers such asHenry Watson Fowler,[1] is probably retained in part because in official titles it was deemed useful to have the title dissociated from the word and concept "control".[2]
A variant explanation is thatcomptroller evolved in the 15th century through a blend of the Frenchcompte ("an account") and theMiddle Englishcountreroller (someone who checks a copy of a scroll, from the Frenchcontreroule "counter-roll, scroll copy"), thus creating a title for acompteroller who specializes in checkingfinancial ledgers.[3][1] Thisetymology explains why the name is often pronounced identically to "controller" despite the distinct spelling. However,comptroller is sometimes pronounced phonetically by those unaware of the word's origins or who wish specifically to avoid confusion with "controller".[4]
In business, the comptroller is the person who, independently from thechief financial officer in some countries, oversees accounting, and the implementation and monitoring of internal controls. In countries such as the United States, the United Kingdom, Australia, New Zealand, Israel, and Canada, a comptroller or financial comptroller reports to the CFO in companies that have one.
Businesses typically use the spellingcontroller,[5] while government organizations usecomptroller.[6]
In India,Comptroller is an appointment.
In Mexico, the comptroller, translated as 'contralor', was established in the public administration during the presidency ofMiguel de la Madrid, when he created theSecretariat of the General Comptroller of the Federation [es] in 1982. This ministry was renamed as theSecretariat of the Civil Service by presidentVicente Fox in 2003. Nevertheless, several states still name as General Comptroller Office their audit and oversight institutions. Namely,Mexico City has the Secretariat of the General Comptroller of Mexico City andJalisco has the Comptroller General Office of the State of Jalisco.
The title ofcomptroller is used in theRoyal Household for various offices, including:
TheComptroller of the Navy is a post in theRoyal Navy responsible for procurement andmatériel.
The Comptroller and City Solicitor is one of the High Officers of theCity of London Corporation, responsible for provision of all legal services. The post of comptroller dates from 1311, and that of City Solicitor from 1544; the two were amalgamated in 1945.
The Comptroller General of Patents, Designs and Trade Marks is the head of theUK Intellectual Property Office orPatent Office.
TheComptroller and Auditor General is head of theNational Audit Office, and is the successor of the formerComptroller General of the Exchequer and the formerCommissioners of Audit.
The title of comptroller is held by various government officials.
In Spain, the word comptroller is translated as "Interventor".
