comptroller
A comptroller is a senior executive who oversees the accounting and financial reporting of a business or government department. As the head of accounting, a comptroller is responsible for preparing financial reports and overseeing all accounting, including payroll administration, accounts receivable, loan transactions, etc.. A comptroller could also be responsible for budget preparation, fraud prevention, and ensuring compliance with federal, state, and institutional regulatory frameworks.
The term "comptroller" began as a misuse of the word "controller" but the term has become so widespread that comptroller and controller are now used interchangeably in the United States.
In the United States federal government, the Office of the Comptroller of the Currency (OCC) within the United States Department of the Treasury is led by the Comptroller of the Currency, an administrator of the federal banking system, who also serves as a director of the Federal Deposit Insurance Corporation (FDIC).
[Last reviewed in January of 2025 by the Wex Definitions Team]
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