Role of Controller in Protection of Assets

In a business, a financial controller is an accounting/audit expert that overseas accounting and implements internal control measures. The person in this role is also sometimes called the comptroller.

One of the responsibilities of the controller is to protect assets by adequately insure and maintain them and at the same time avoid unnecessary risk.

The financial controller is required to:

  • Establish and maintain a current system of internal financial controls
  • Protect the organization, its Board and its staff from any claims of liability
  • Protect intellectual property, information and files from loss or significant damage
  • Invest or hold operating capital in only those investments approved by the Board