The Controllership Series - The Future Role of the Controller Part 1

Overview

This is a two-part series that discuss new trends and concepts the financial controller should begin to execute in order to truly become a valued member of the senior leadership team. The rapid pace of the evolving technological landscape has promoted changes in how accountants and financial professionals focus attention on strategy and modernize their roles to leverage digital technology. There is increased demand for enhancing flexibility into finance cycles and initiating real-time reporting and insights. These are the core attributes that will assist in transforming the work that controllership function performs.

Is the financial controllership prepared to meet future business demands? The IMA® (Institute of Management Accountants) and Deloitte’s Center for Controllership aimed to better understand the current state of controllership and expectations of future demands for controllers and accounting professionals. They conducted a survey in late 2022 and identified several trends. The survey takes a look at how prepared controllership is to meet future business demands. It also highlights some insights for leaders to consider that may increase their preparedness. It also identified areas of additional insight and questions to answer on the controllership transformation journey.

In this segment one, we go through numerous concepts in detail and the remaining concepts will be covered in segment two.

Highlights

• Accounting and Finance

Prerequisites

None

Designed For

Controllers, Accountants, Finance Professionals, Auditors

Objectives

• Explore and examine the future state of the controllership role
• Identify the actions controllers can take to address barriers
• Discover and examine how to broaden data
• Identify and understand flexibility for unstructured data
• Explore and evaluate how to rethink finance analytics
• Recognize and examine how to create agile forecasting with scenario planning

Preparation

None