What is a Controller?

The controller position is accountable for the accounting operations of the company. This includes the production of periodic financial reports, maintenance of an adequate system of accounting records, and a comprehensive set of controls and budgets designed to mitigate risk. The controller is also responsible for enhancing the accuracy of the company's reported financial results, and ensuring that reported results comply with generally accepted accounting principles or international financial reporting standards.

What is a Comptroller?

A comptroller is an executive who is primarily responsible for the accounting operations of a business. The areas overseen include financial accounting and managerial accounting. This individual may also be in charge of finances, unless this area has been handed off to a treasurer. The comptroller term is most commonly found in government entities.

Comparing a Controller and a Comptroller

A comparison of the controller and comptroller positions will generally show that the titles refer to the same position, which is the person responsible for all accounting operations of a business. That being said, there are a few differences, which are as follows:

Title usage in for-profit and non-profit environments. The controller title is more frequently found in for-profit businesses, while the comptroller title is more commonly found in governmental and non-profit organizations.
Emphasis on fund accounting. Given the non-profit and governmental locations in which the comptroller title is more commonly found, there is a greater tendency for the comptroller job position to require a greater emphasis on fund accounting.
Seniority level. The comptroller title may be considered to represent a slightly more senior-level management position than the controller title. However, this does not mean that there would be a controller position that reports to a comptroller. In essence, the titles are mutually exclusive within an organization.

Both the controller and comptroller positions report to the chief financial officer (CFO) position, if such a position exists. If there is no CFO (as may be the case in a smaller organization), then these positions report instead to the president or chief executive officer.

Both positions share the following responsibilities:

Manages the entire accounting staff, sometimes using assistant controllers as intermediaries.
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 company's financial reports and controls.
If an organization is publicly held, these positions are also expected to produce a number of additional public filings with the Securities and Exchange Commission.