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The growing role of the modern controller
As a controller, you’re a skilled tactician, adept at execution and efficiency. You lead a team that closes the books on time, produces accurate financial reports and supports compliance. Yet delivery is becoming more complex given expanded reporting requirements, continued cost pressure and talent shortages. Moving forward may require flexing more strengths — becoming a strategic advisor, technology implementer, talent recruiter and risk mitigator. Finance executives are well positioned to identify and improve operational and risk management, potentially reducing costs and enhancing profitability.
In the spotlight
What your company needs to know about the EU’s CSRD
The urgency around environmental, social and governance (ESG) reporting has never been greater, with leaders under pressure to execute on sustainability — and fast. A do-nothing approach? Not an option. Many companies are now navigating challenges with the commitments needed to comply with new regulations such as the EU’s Corporate Sustainability Reporting Directive (CSRD), which require detailed disclosures across a wide range of topics. While the CSRD and other regulations may test your reporting capabilities, they also present opportunities to leverage ESG data for growth. With deadlines fast approaching, act now on compliance and avoid last-minute disruptions.
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[86%] of respondents say data availability and quality is an obstacle to CSRD implementation to a moderate or very large extent
Source: PwC's Global CSRD Survey 2024
What to focus on in 2025
Regulation and compliance
Collaborate on evolving regulations
Today’s controllers face a complex regulatory environment. From new cybersecurity disclosures to ESG reporting rules, you'll need to equip your organization to address new requirements. Controllers should stay alert to evolving rules given sweeping Pillar Two requirements for multinationals and possible new guardrails for the adoption of AI on the horizon.
While financial compliance remains your primary focus, consider how your longstanding expertise in this area may guide your actions around planning for regulatory change. Start by considering in-flight investments such as enterprise resource planning (ERP) upgrades to meet reporting needs. Build a digital foundation that can support multiple initiatives. By prioritizing simple, robust solutions, you can identify gaps — and make sure your tech isn’t too complex to safeguard.
Additional ways to collaborate on evolving regulations
Regulation and compliance
Risk and compliance reimagined: Unlock hidden savings and performance
Learn how organizations can cut costs and improve quality by reimagining risk management and compliance programs.
Financial reporting
A look at this quarter’s financial reporting matters
Get up to date with the latest accounting, financial reporting and regulatory updates to support your quarterly reporting.
Cybersecurity and privacy
The CFO’s role in SEC cyber disclosures
Find out the nine questions a CFO should consider to help their company produce accurate, well-reasoned and defensible cybersecurity disclosures.
[61%] of CFOs say global regulatory uncertainty is a moderate or serious risk to their company
Source: PwC Pulse Survey, October 2024
ESG reporting
Lead on ESG compliance
The controller’s office is becoming the new center of gravity on sustainability as ESG regulatory pressure grows. Because the European Union’s Corporate Sustainability Reporting Directive (CSRD) and California’s climate disclosure bills require holistic and granular reporting on companies’ sustainability initiatives, it’s natural that controllers’ longstanding compliance capabilities would be leveraged to meet these new demands.
Working together with your sustainability leader and chief information officer (CIO), determine the appropriate processes to streamline ESG reporting. This includes leveraging technology, including AI, to streamline ESG reporting, reducing costs and increasing quality. Through careful planning, the controller can use sustainability data to identify opportunities to drive growth, such as the higher margin potential in sustainable products.
Additional ways to lead on ESG reporting
ESG reporting
ESG controller: The position you didn't know you needed
ESG leaders guide companies to understand the impacts of the SEC's ESG disclosures proposals — find out how an ESG controller can help lead the way.
ESG reporting
California’s not waiting for the SEC’s climate disclosure rules
California’s climate-related disclosure requirements will be the most impactful yet in terms of the number of public and private US companies in scope.
Regulation and policy
CFO checklist: How to drive sustainability
How can CFOs drive sustainability? PwC’s playbook reveals how the finance function can lead on CSRD and ESG reporting, decarbonization and transformation.
Sustainability’s {center of gravity is shifting} to the finance function.
Technology
Own the finance tech agenda
While demands facing the controller function are growing, your resources may not be. Technology offers an opportunity to streamline time-consuming manual processes, allowing your team to concentrate on higher-value tasks. Automation, generative AI (GenAI) and other technologies can be particularly beneficial to the critical steps in the close cycle. For instance, some controllers use AI to help review financial statements, identify anomalies or explain variances.
Craft a tech agenda by tailoring it to your specific goals, moving beyond system consolidation or resource planning to elevate your accounting and reporting. Adopting a strategic approach that considers future technology and workforce needs positions you to collaborate effectively across the enterprise to support sustainable growth and improved efficiency.
Additional ways to own the finance tech agenda
Technology
Hit reset on risk and drive more effective system implementations
Find out how you can drive more value from ERP, cloud and technology initiatives by collaborating with CIOs in these five areas.
Transformation
Future of finance: How the finance function is turning tech into a competitive advantage
Navigate the complexities of evolving requirements with precision analysis and reporting with a high degree of transparency.
Generative AI
How to leverage generative AI to unlock value and reinvent your business
Discover generative AI's potential for digital transformation in company operations, workforce, cloud and data modernization and business reinvention.
AI and analytics
How PwC and OneStream can help finance teams turn disparate data into integrated insights
Learn how finance teams turn disparate data into integrated insights, helping businesses determine which data to trust.
[86%] of CFOs and finance leaders say using technology and automation effectively poses a challenge to achieving their priorities
Source: PwC Pulse Survey, October 2024
Workforce
Close the talent gap
Securing talent with the financial skills to support the diverse responsibilities of the controller’s team is becoming more challenging. How can you enhance the accuracy of reporting and controls when the number of accountants continues to decline? While technology can help alleviate the burden of manual tasks, experienced professionals are still essential to untangle increasingly complex financials.
Solving for the talent gap starts with building a strong company culture. By fostering employee engagement and seeking to evolve roles to align with new initiatives — such as sustainability reporting — you can keep talented staffers and attract new hires who may bring new skills. Building an innovative, tech-driven culture can help you acquire highly sought after finance talent to keep your organization competitive and forward-looking.
Additional ways to close the talent gap
Workforce strategy
To build the workforce of tomorrow, the time to act is now
Learn about the five workforce signals leaders can act on to successfully drive their desired workforce transformation and business outcomes.
Workforce transformation
Global Workforce Hopes and Fears Survey 2024
Discover the trends in workplace change and the six actions to engage workers to drive transformation.
Strategy and growth
3 strategic leadership goals to unleash your finance function
From redefining roles to enhancing collaboration and embracing innovation for transformative outcomes, these goals can help you unleash your finance function.
[20%] of CFOs cite resource constraints as a reason for delaying investment decisions
Source: PwC Pulse Survey, October 2024
Strategy and growth
Build robust relationships
As a controller, the more connected you are to the business, the easier it can be to craft a roadmap that positions you as a proactive, strategic advisor while also avoiding last-minute fire drills. Earning colleagues’ trust and establishing strong relationships — especially with your CFO, chief accounting officer, chief sustainability officer, board and audit committee — are essential. Controllers are often asked for guidance around complex accounting and reporting topics and to interpret technical accounting details for other leaders.
Take the next step and take control of your data to earn a seat during broader business discussions. Consistently offer valuable insights that help your stakeholders better understand financial changes, regulatory implications and strategies to strengthen the business.
Additional ways to build robust relationships
Strategy and growth
How transformative leadership can improve performance and drive business reinvention
Learn why organizations need transformative leaders who can adapt and innovate to stay competitive and drive business outcomes.
Stakeholder engagement
Get boardroom ready: Five ways to improve executive interactions with the board
Your time as an executive with the board is limited. Preparation is key to making a good impression — learn practical tips for effective board communication.
Financial reporting
Prepare for your next audit committee meeting
Our quarterly audit committee newsletter offers potential topics for inclusion in your upcoming audit committee meeting.
Financial reporting
Closing the investor expectations gap: What you need to know
Don't get caught in the investor expectations gap. Listen as PwC talks about what investors want from financial reporting.
[43%] of finance leaders say establishing finance as a business partner is a top priority
Source: PwC Pulse Survey, August 2023
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Identify the key focus areas of your colleagues.
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