Financial controller
A financial controller is the senior manager who owns a company's accounting function — management reporting, budgets and internal control — distinct from the treasurer, who manages cash, banking and funding.
See it move
Budgeted operating costs of €340,000 against actual costs of €365,000 leave a €25,000 unfavourable variance — the financial controller's team investigates it and tightens internal control. Separately, the treasurer arranges a €150,000 short-term credit facility to cover a cash dip. Both roles report to the CFO, who sets overall financial strategy.
Check yourself
This month's management accounts show budgeted operating costs of €280,000 against actual operating costs of €317,000, an unfavourable variance of €37,000. Investigating this variance and reinforcing the internal control procedure that allowed it is the responsibility of which role?