WHAT DOES AN INTERIM CONTROLLER DO?

Published: Oct 01, 2025 - The Interim Controller oversees accounting operations, financial reporting, budgeting, payroll, and cash flow management to ensure accuracy and efficiency. This role directs financial planning, develops internal controls, and ensures compliance with legal and regulatory requirements. The controller also manages audits, reviews budget variances, and provides timely financial analysis to support organizational decision-making.

A Review of Professional Skills and Functions for Interim Controller

1. Interim Controller Duties

  • Team Leadership: Lead a small team of accounting professionals.
  • System Control: Responsible for the development, implementation and control of systems and records for accurate reporting and recording of financial information.
  • Bank Confirmation: Confirm with the Bank on the checks and debits in the Bank account (instead of Positive Pay).
  • Internal Controls: Establish and maintain internal accounting controls to verify the accuracy in computations, proper support in classification and recording of all transactions.
  • KPI Reporting: Update weekly KPI "flash" report to be sent to HPP.
  • Account Reconciliation: Start the month-end reconciliation of the Balance sheet accounts.
  • Ledger Control: Control the general ledger to ensure that all invoices, cash receipts, invoice adjustments and general ledger transactions are properly documented and recorded.
  • Cost Allocation: Manufacturing Labor and OH allocation.
  • Accrual Posting: Post accruals and prepare a schedule for all the Balance sheet accounts.
  • Problem Solving: Develop solutions to complex business issues encountered within the businesses.
  • Project Management: Direct special projects comprised of cross-functional teams.
  • Decision Support: Provide key decision makers with support and analysis to make informed decisions.
  • Staff Development: Manage, educate, and mentor staff/team of professionals.
  • Employee Engagement: Create an atmosphere where people are engaged, rewarded for progress, and share a strong sense of ownership of the organization.
  • Close Management: Lead the monthly closing process to ensure timely and accurate reporting.

2. Interim Controller Details

  • Financial Reporting: Prepare financial reports, financial forecasts, and analyses to understand the financial state of the business.
  • Statement Accuracy: Ensure all financial statements and reports are completed in a timely and accurate manner.
  • Close Management: Lead and support quarter and year-end accounting close.
  • Entry Review: Review and approve journal entries and account reconciliations.
  • Compliance Oversight: Understand the financials of the company to meet compliance standards.
  • Cost Monitoring: Monitor the company's financial reports and determine ways to reduce costs.
  • Budget Analysis: Review the overhead budget to actual results with department managers.
  • Cash Forecasting: Prepare cash flow reports, project cash needs at weekly and monthly intervals.
  • Audit Support: Provide oversight and support for external audits.
  • M&A Integration: Assist in the integration process for potential acquisitions.

3. Interim Controller Responsibilities

  • Team Leadership: Direct the Accounting Team to meet deadlines and achieve department goals.
  • Process Improvement: Support continuous improvement initiatives.
  • Financial Communication: Communicate effectively with management about the finances of the business and propose financial recommendations.
  • Internal Controls: Protect assets by establishing, monitoring, and enforcing internal controls.
  • Budget Forecasting: Manage budgeting and forecasting processes.
  • Data Analysis: Collecting, analyzing, and consolidating financial data.
  • Budget Management: Achieve budget objectives by scheduling expenditures.
  • Variance Analysis: Analyzing variances and initiating corrective actions.
  • Regulatory Compliance: Ensuring compliance with applicable rules, laws, and regulations.
  • Procedure Development: Assess and improve accounting procedures and develop formalized Standard Operating Procedures for the department.

4. Interim Controller Job Summary

  • Cash Forecasting: Ensure timely cash flow forecasts through collaboration with the Treasury.
  • Control Monitoring: Review and monitor that controls are designed and operating effectively in partnership with compliance.
  • Financial Analysis: Become well-versed in key financial results and movements across programs to summarize and discuss with key business partners.
  • SOX Compliance: Support SOX controls through the collation of evidence and qualitative discussion of monthly financial results across global programs.
  • Budget Monitoring: Continuous review of actual spend against the budget.
  • Corrective Actions: Direct actions needed for any expected shortfalls.
  • Program Controllership: Engage with various business partners for FP&A activities such as ensuring accuracy of accrual models, accounting, and true-up activities.
  • Forecasting Oversight: Supervise reporting, forecasting, and budgeting processes and tools for the accountable programs.
  • Result Summarization: Recognize key financial results and movements across programs, then summarize and discuss them with key business partners.
  • Team Management: Responsible for managing and working closely with the accounting and finance team to complete daily and weekly tasks including journal entries, reconciliations, AP and AR.
  • Audit Support: Support audit prep, month and year-end processes.
  • Board Reporting: Prepare and present financials to the board of directors.

5. Interim Controller Accountabilities

  • Accounting Oversight: Oversee and supervise accounting operations including financial reporting, accounting, billing, collections, payroll, and budgeting duties.
  • Financial Planning: Coordinate and direct the financial planning, budgeting, procurement, or investment activities of all or part of an organization.
  • Management Advisory: Advise management on short-term and long-term financial objectives, policies, and actions.
  • Variance Analysis: Closely manage and compare the budget to actual and document variances.
  • Cash Monitoring: Monitor financial activities and details, such as cash flow and reserve levels.
  • Regulatory Compliance: Ensure that all legal and regulatory requirements are met.
  • Budget Review: Ensure timely and accurate budget analysis and financial review for the management team.
  • Close Management: Review all month-end closing activities, including general ledger maintenance, balance sheet reconciliations and corporate/overhead cost allocation.
  • Internal Controls: Assess and develop internal control policies, guidelines, and procedures for activities such as budget administration, cash and credit management, and accounting.
  • Audit Coordination: Conduct or coordinate audits of company accounts and financial transactions.
  • Statutory Compliance: Ensure compliance with state and federal requirements and statutes.