A Punchlist for Real Estate Controllers

Individuals tasked with financial reporting of real estate entities, typically with the title “controller,” can often find themselves with several responsibilities. Depending on the size of the entity and the nature of its operations, a controller may report to a chief financial officer, or they may bear nearly all financial reporting responsibilities. A controller should focus on core responsibilities that enable them to effectively manage the entity’s accounting records, produce financial reports, and coordinate all accounting functions.

Key areas of responsibilities include understanding the entity and financial reporting requirements, selecting and consistently applying a basis of accounting, and designing, implementing and maintaining internal controls, including those relating to information technology.

The purpose of this checklist is to give real estate controllers a clear and concise list of specific suggestions for which every controller should integrate into their overall duties.