One of their primary responsibilities is to ensure that accounting allocations are made and documented. They manage accounts payable and receivable, cash disbursements, payroll, and bank reconciliations.
The Controller is also in charge of internal controls. The Controller takes responsibility for fraud prevention within a company. They create and prepare internal control procedures for their company for both the financial and accounting departments.
Lastly, they are responsible for planning, reporting, and analyzing financial activities within the company. Within this role, Controllers must be able to make a financial analysis and formulate perspective and opinions around the report.
At TGG, we allocated 4-person teams to every client, consisting of a CFO, a Controller, and Accounting Manager, and a Staff Accountant. To find out more about the TGG Way, visit our website.