Financial Auditors and Accountants - NOC Code 1111

If you are interested in working as a Financial Auditor or Accountant in Canada, you will be pleased to know that the job outlook for your occupation in Canada is extremely positive. You can use this overview of the Canadian employment prospects in your field to start planning your immigration and settlement in Canada.

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Financial Auditors examine and analyze the accounting and financial records of individuals and establishments to ensure accuracy and compliance with established accounting standards and procedures. Accountants plan, organize and administer accounting systems for individuals and establishments. Articling students in accounting firms are included in this unit group. Financial Auditors and Accountants are employed by auditing and accounting firms throughout the private and public sectors, or they may be self-employed.

(Description from Employment and Social Development Canada's National Occupation Classification, used by Canadian immigration officers, to assess an applicant's work experience.)

Financial Auditors:
  • Examine and analyze journal and ledger entries, bank statements, inventories, expenditures, tax returns and other accounting and financial records, documents and systems of an individual, department, company or other establishment to ensure financial recording accuracy and compliance with established accounting standards, procedures and internal controls
  • Prepare detailed reports on audit findings and make recommendations to improve individual or establishment's accounting and management practices
  • Conduct field audits of businesses to ensure compliance with provisions of the Income Tax Act, Canadian Business Corporations Act or other statutory requirements
  • May supervise other auditors or professionals in charge of accounting within client's establishment.

Accountants:
  • Plan, set up and administer accounting systems and prepare financial information for an individual, department, company or other establishment
  • Examine accounting records and prepare financial statements and reports
  • Develop and maintain cost finding, reporting and internal control procedures
  • Examine financial accounts and records and prepare income tax returns from accounting records
  • Analyze financial statements and reports and provide financial, business and tax advice
  • May act as a trustee in bankruptcy proceedings
  • May supervise and train articling students, other accountants or administrative technicians


  • accountant
  • accountant-controller
  • accountants supervisor
  • accounting controller
  • analyst-accountant
  • assistant controller
  • audit unit head – taxation
  • auditor – finance
  • auditor-CA (chartered accountant)
  • auditor-chartered accountant (CA)
  • auditors supervisor
  • bank branch accountant
  • bank reserves auditor
  • bankruptcy trustee
  • branch accountant, bank
  • budget accountant
  • CA (chartered accountant)
  • CA (chartered accountant) student
  • certified general accountant (CGA)
  • certified management accountant (CMA)
  • CGA (certified general accountant)
  • chartered accountant (CA)
  • chartered accountant (CA) student
  • chief accountant
  • claims accountant
  • CMA (certified management accountant)
  • computer audit specialist
  • cost accountant
  • cost accounting supervisor
  • departmental accountant
  • division controller – accounting
  • field auditor – finances
  • financial accountant
  • financial auditor
  • financial control officer
  • general accountant
  • income tax adjuster
  • income tax adviser
  • income tax consultant
  • income tax expert
  • income tax investigator
  • income tax specialist
  • industrial accountant
  • industrial auditor
  • intermediate accountant
  • internal audit project manager
  • internal audit supervisor – finances
  • internal auditor
  • internal auditor – finances
  • internal auditors supervisor – finances
  • machine processing accountant
  • management accountant
  • management accounting chief
  • manufacturing accountant
  • officer, financial control
  • plant accountant
  • plant controller
  • production accountant
  • project accountant
  • property accountant
  • public accountant
  • public accountants chief
  • public accountants supervisor
  • reinsurance analyst
  • rulings officer, taxation
  • sales auditor – finances
  • senior accounting analyst
  • senior cost accountant
  • senior intern auditor
  • supervisor, accountants
  • supervisor, auditors
  • supervisor, cost accounting
  • supervisor, internal audit – finances
  • supervisor, internal auditors – finances
  • supervisor, public accountants
  • tax accountant
  • tax adviser
  • tax analyst
  • tax auditor
  • tax consultant
  • tax evaluator
  • tax examiner
  • tax expert
  • tax specialist
  • taxation rulings officer

Why your job prospects in Canada are excellent:

  • Canada’s economy is growing, and growing businesses will need more auditors and accountants to set up their books, prepare their taxes and provide management advice.
  • Advances in technology have broadened rather than eliminated the roles of Financial Auditors and Accountants.
  • Occupations that fall under this category are not usually as affected as others by economic downturns and slowdowns, and often become more in-demand during such periods.
  • Strong growth prospects in the accounting field will highlight the higher level functions of advice and auditing.
  • The large size of this occupational group means that a substantial number of new positions will be created, to replace retiring professionals.
  • In addition, the growth in the number of new businesses coupled with the need for greater financial efficiency and increased accountability will continue to fuel job demand over the next few years.
  • Qualified Canadians in the accounting field are short in supply due to a combination of the aging population and the number of retirees in the profession over the next few years, which is why Canadian firms are looking to foreign talent to relieve the demand.
  • International experience is highly valued by Canadian firms because many of their clients are no longer based in North America and have more diverse needs.
  • Immigration is already responsible for net growth in the workforce in many Canadian cities and provinces.
  • The future of the financial industry relies on attracting qualified immigrants working in the financial sector to come to Canada.
  • Shortages in the financial industry are expected to increase, especially in leadership roles.



Find out about the salary ranges for Financial Auditors and Accountants in different Canadian cities with our Canada Salary Calculator

Some areas in Canada where your occupation is most in demand:

Toronto:

  • The Greater Toronto Area (GTA) is the home base of a large number of companies and firms in the country, including auditing and accounting firms, banks and insurance companies. The city of Toronto is known as the financial capital of Canada, and its surrounding area is expected to see more and more job growth in the coming years. The GTA is virtually a hotspot for every kind of financial and accounting-related occupation you can think of.
  • Current levels of growth in the Toronto financial industry will create almost 2000 new jobs each year.
  • Many local Toronto financial organizations simply cannot achieve their business objectives by relying on homegrown talent – they need foreign-trained workers to meet their goals.
  • As Toronto-based companies are expanding into new global markets, the competition for qualified talent in those markets is increasing, and these firms are looking to foreign talent to achieve their new goals.
  • Toronto’s financial sector is increasingly making their workforce more reflective of the city’s diverse marketplace, emphasizing recruitment from the immigrant population and taking steps to facilitate workplace integration for newcomers.

Ottawa:

  • Canada’s capital city, Ottawa, is where most government and public administration offices are located, and over a third of Financial Auditors and Accountants in the city work in highly-coveted positions in the public sector.
     
  • There is increasingly high demand for accountants in the public service, especially for those who possess broad computer software experience, budget analysis and taxation skills, financial and investment planning, and information technology consulting experience. 
  • In addition, recent changes to the Ontario Public Accounting Act enable qualified Chartered Accountants, Certified General Accountants and Certified Management Accountants to obtain a license to practice public accounting, which was once restricted only to Chartered Accountants.

  • Canada prides itself on the stability of its banks and economy. Recent global accounting scandals mean that forensic and investigative accounting experience are becoming more valuable as firms are placed under greater financial scrutiny.

  • Over 65 employers in this sector are listed with the Canadian government.


Vancouver and Lower Mainland Southwest:

  • Accounting occupations in BC are predicted to grow by an annual rate of 1.7% to the year 2013, which is slightly higher than the average annual growth of 1.5% forecast for all occupations.

  • As in other areas of Canada, good employment prospects can be credited to the growing demand for business services and the increasing variety and complexity of the financial services being developed to serve a growing and diversifying economy.
  • Adding to the prospects for growth is the development and ease of international commerce using new technologies such as e-commerce.

  • As professional accountants offer a recognized business service which can be easily contracted out, nearly one-quarter of the workers are self-employed. Industry sources expect the amount of self-employment to increase. Self-employment is common among new immigrants to Canada, who will find that the process of setting up a business in Canada is among the easiest in the world.

Halifax:

  • Halifax is the financial centre of the Atlantic Region of Canada, and many international companies have set up here in recent years. The cost of living in Halifax is quite affordable as well.
     
You can start looking for a job in Canada as a Financial Auditor or Accountant by using our  Canada Job Search Tool.
 

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