Accountants and Financial Auditors
(NOC 1111)
in All Business, Finance, and AdministrationAccountants plan, organize and administer accounting systems for individuals and organizations. Articling students in accounting firms are included in this group. Financial auditors examine and analyze the accounting and financial records of individuals and organizations to make sure they are accurate and comply with established accounting standards and procedures. Accountants and financial auditors work for auditing and accounting firms throughout the private and public sectors, or they may be self-employed.
Job Outlook
Good
Read more
Compared to: All Business, Finance, and Administration
The Halifax area provides more opportunities within this occupational category, with its strong government presence and a high number of national, regional, and local firms. Areas outside the city may have fewer opportunities, especially with larger firms, but that is likely balanced by a lower supply of experienced workers. Having a recognized credential, such as a CPA, is important to employers, as well as having strong interpersonal skills and prior work experience, particularly with large, international corporations. Non-designated accountants may have greater difficulty advancing their career into management roles. While hiring can be sporadic throughout the year and depend on budgets and major projects, opportunities do occur regularly and have been expanding. Public accounting is an area that seems to have trouble finding talent, particularly those skilled in assurance.
Hourly Pay
$19.95
Minimum$32.97
Median$58.97
MaximumAnnual Pay
$10,340
Minimum$40,057
Median$93,890
MaximumCompared to: All Business, Finance, and Administration
Hourly Pay
$15.00
Minimum$23.00
Median$38.50
MaximumAnnual Pay
$6,754
Minimum$36,515
Median$70,271
MaximumAbout the job
Nature of work
Accountants plan, organize and administer accounting systems for individuals and organizations. Articling students in accounting firms are included in this group. Financial auditors examine and analyze the accounting and financial records of individuals and organizations to make sure they are accurate and comply with established accounting standards and procedures. Accountants and financial auditors work for auditing and accounting firms throughout the private and public sectors, or they may be self-employed.
Job duties
Financial auditors:
- Analyze accounting and financial records like journal and ledger entries, bank statements, inventories, expenses, and tax returns to confirm accuracy and compliance with accounting standards, procedures and internal controls.
- Prepare detailed reports on audit findings and make recommendations to improve individual or organization's accounting and management practices.
- Perform field audits of businesses to make sure they comply with provisions of the Income Tax Act, Canadian Business Corporations Act or other legal requirements.
- May supervise other auditors or professionals in charge of accounting within client's organization.
Accountants:
- Oversee accounting systems and prepare financial information for individuals, departments within organizations, businesses and other organizations.
- Look at accounting records and prepare financial statements and reports.
- Develop and maintain cost finding, reporting and internal control procedures.
- Look at 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.
Sample job titles
- accountant
- auditor
- bankruptcy trustee
- certified general accountant (CGA)
- certified management accountant (CMA)
- chartered accountant (CA)
- chartered professional accountant (CPA)
- financial control officer
- income tax specialist
- public accountant
Skills
- You should have excellent organizational, analytical, and spoken and written communication skills. Good judgment, integrity, and persistence are important. You must have an interest in mathematics and be capable of detailed and precise work. Business skills are essential. Knowledge of business and financial software is required.
Job requirements
- Chartered professional accountants need a university degree and completion of the CPA Professional Education Program.
- Auditors need a university degree, completion of the CPA Professional Education Program and some experience as an accountant.
- Auditors may require recognition by the Institute of Internal Auditors.
- Auditors and accountants must hold a licence as a trustee in bankruptcy to act as a trustee in bankruptcy proceedings.
- Licensing by the provincial or territorial governing body is usually required for accountants and auditors practicing public accounting.
Other considerations
- Movement to auditing or accounting management positions is possible with experience.
By the numbers
Quick look
employed in 2016
employed full-time
self employed
median age
Compared to: All Business, Finance, and Administration
employed in 2016
employed full-time
self employed
median age
Where will I likely work?
Halifax
$45,332 median annual incomeNorth Shore
$38,420 median annual incomeCape Breton
$38,432 median annual incomeSouthern
$37,198 median annual incomeAnnapolis Valley
$34,821 median annual incomeCompared to: All NS Occupations
Halifax
North Shore
Annapolis Valley
Cape Breton
Southern
Top Industries of Employment
Health care and social assistance
Professional, scientific and technical services
Public administration
Finance and insurance
Retail trade
What is the age of Employment?
25-34
45-54
35-44
55-64
65+
15-24
Compared to: All Business, Finance, and Administration
45-54
55-64
35-44
25-34
65+
Top levels of education
Bachelor
$51,138 median annual incomeCollege Diploma
$36,518 median annual incomeTrade Certification
$36,214 median annual incomeDiploma Above Bachelor
$59,292 median annual incomeHigh school
$36,812 median annual incomeCompared to: All Business, Finance, and Administration
College Diploma
$36,304 median annual incomeHigh school
$32,903 median annual incomeBachelor
$41,755 median annual incomeTrade Certification
$34,807 median annual incomeLess than high school
$23,174 median annual incomeEducation & training
Accounting
University ProgramThese programs prepare students to practice the profession of accounting and to perform related business functions. They include courses in accounting principles and theory, financial accounting, managerial accounting, cost accounting, budget control, tax accounting, legal aspects of accounting, auditing, reporting procedures, statement analysis, planning and consulting, business information systems, accounting research methods, professional standards and ethics, and applications to specific for-profit, public, and non-profit organizations.
Institutions providing this program
Wolfville, NS
Sydney, NS
Various, NS
Business/Commerce
College, Trades, or University ProgramThese programs focus on the general study of business, including the processes of interchanging goods and services (buying, selling and producing), business organization, and accounting as used in profit-making and non-profit public and private institutions and agencies. They prepare students to apply business principles and techniques in various occupational settings.
Institutions providing this program
Finance
College or University ProgramThese programs prepare students to plan, manage, and analyse the financial and monetary aspects and performance of business enterprises, banking institutions, or other organizations. They include courses in principles of accounting, financial instruments, capital planning, funds acquisition, asset and debt management, budgeting, financial analysis, and investments and portfolio management.
Institutions providing this program
Wolfville, NS
Sydney, NS
Various, NS
Employment requirements & contacts
Regulations
Right to Title: This job is regulated in Nova Scotia. The job title is protected, and you may not use it without a professional designation. Professional designation shows that the holder has met provincial standards for the job. Employers may require professional designation, but professional designation is not necessary to do this work.
Right to Title and Practice: This job is regulated. The job title is protected, and you may not use it without a professional licence. A licence shows that the holder has met provincial requirements and is required to legally do this work.