Common use of Controller Clause in Contracts

Controller. The controller shall have the duties to keep all books of account relating to the business of the Company, to render a statement of the Company’s financial condition whenever required to do so by the Board of Directors, or the chairman, or the president, or the officer to whom reporting as directed by the chairman, or the president, or the Board of Directors, to maintain adequate records of all assets, liabilities, and transactions of the Company, to see that adequate audits thereof are currently and regularly made, and, in conjunction with other officers and managers, to initiate and enforce measures and procedures whereby the business of the Company shall be conducted with maximum fiscal safety, efficiency and economy. The controller’s duties and powers shall extend to all subsidiary companies. In the absence of the controller, an assistant controller or acting controller may perform the controller’s duties.