COMPTROLLER Meaning and
Definition
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A comptroller is an executive-level position within an organization responsible for overseeing and managing financial operations, budgeting, and internal controls. The term is typically used in government agencies, corporations, and non-profit organizations.
The primary role of a comptroller is to ensure that an organization's financial operations are efficient, accurate, and compliant with laws and regulations. They are responsible for maintaining financial records, monitoring financial transactions, and preparing financial reports. This includes overseeing the budgeting process, analyzing financial data, and making recommendations to management for improving financial performance.
Comptrollers also play a crucial role in establishing and implementing internal controls and procedures to safeguard an organization's assets and prevent fraud. They may supervise the work of accountants and financial analysts to ensure accuracy and adherence to established policies and procedures.
In addition to financial responsibilities, comptrollers may also be involved in strategic planning, providing financial advice and support to senior management, and contributing to decision-making processes. They often collaborate with other departments and external auditors to provide information and ensure compliance with financial regulations.
Overall, a comptroller is a key figure in overseeing an organization's financial operations, controlling risks, and providing reliable and accurate financial information to support decision-making and facilitate the achievement of organizational goals.
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• A regulator; a superintendent; a supervisor.
Etymological and pronouncing dictionary of the English language. By Stormonth, James, Phelp, P. H. Published 1874.
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Etymology of COMPTROLLER
The word "comptroller" comes from the Middle English word "counteroller", which was derived from the Anglo-Norman word "contre-rouler" meaning "to verify by a duplicate roll". It combines the French words "contre" (against) and "rouler" (to roll), indicating the practice of verifying financial accounts by comparing duplicate rolls or records. Over time, "counteroller" evolved into "comptroller", the modern spelling of the word that is commonly used today.
Similar spelling words for COMPTROLLER
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