What is an outsourced Controller?

A controller is the financial expert whose main responsibility is to ensure financial reports are accurate, timely, and compliant. Typically an organization might outsource their controller for a multitude of reasons with the biggest one being affordability. Controllers are highly paid, with a major benefit package, and generous PTO option. They should be, they typically will hold a Masters degree in Accounting and sometimes a CPA certification with years of experience. This can be a bit of a roadblock especially for a smaller, newer organization that doesn’t really have the luxury of affording a professional of this caliber.

Outsourcing this can be good, because you get a trained, experienced professional who can build, and fine tune your accounting department, make sure everything is set up properly to keep you compliant, and ensure that you have the right employees to maintain it, without the cost of a full-time employee that maybe you can’t afford to pay just yet. You can outsource your controller to work as a contracter either permanently or for a limited time period. This will all depend on your business, what you need the controller to do, and the time frame in which you need it to get done.

The controller job varies from office to office, industry to industry.

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Responsibilities include but are not limited to:

  • Financial Statements Reviews
  • Ensuring timely delivery of financials and month end closing processes in accordance with GAAP
  • Oversees accounting operations and control systems
  • Maintains accounting standards for processes such as Accounts Receivable, Accounts Payable, Payroll, Compliance with GAAP Standards, Inventory and other accounting processes.
  • Budgets
  • Analysis of financial statements and budgets
  • Assists upper management in identifying areas of concern
  • Develops and implements new accounting procedures when needed
  • Evaluates accounting department deficiencies