Controlling is the last function of management.

Answer: The statement is correct.

Controlling means measuring actual performance, comparing it with the planned standards, finding deviations and taking corrective action.

1. It can be performed only after plans are made and put into action through organising, staffing and directing; there must be some actual performance to measure.
2. It checks whether the work is done according to the plans and whether the objectives are being achieved.
3. It completes the management process and links back to planning: the deviations found help in revising plans for the future.
4. It ensures efficient use of resources and keeps the organisation on the right track.

Hence controlling is the last function of management, though it also leads to fresh planning, making management a continuous cycle.