NOC 1111 – Financial auditors and accountants

NOC Version: NOC 2011

Position Summary for NOC 1111 - Financial auditors and accountants

Financial auditors and accountants in Canada (NOC 1111) are professionals who examine and analyze accounting and financial records to ensure accuracy, compliance with established accounting standards and procedures, and to report on financial status and operations for individuals, businesses, and other entities. They play a critical role in financial planning, auditing, taxation, and management consulting, serving as key advisors in financial decision-making processes.

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Job Titles Specific for NOC 1111 in Canada

Chartered Accountant (CA)
Certified General Accountant (CGA)
Certified Management Accountant (CMA)
Certified Professional Accountant (CPA)
Auditor
Public Accountant
Tax Accountant
Internal Auditor
Forensic Accountant
Financial Auditor

Main Responsibilities common for NOC 1111 in Canada

Examining and Analyzing Financial Records: Reviewing and assessing financial documents to ensure accuracy and compliance with laws, regulations, and generally accepted accounting principles.
Conducting Audits: Performing audits of financial accounts to verify the correctness of financial records and ensuring that statements are presented fairly in conformity with GAAP (Generally Accepted Accounting Principles).
Preparing Financial Statements and Reports: Compiling comprehensive financial statements including balance sheets, income statements, and statements of cash flows, and preparing reports on findings from audits and analyses.
Tax Planning and Compliance: Offering advice on tax planning, preparing tax returns, and ensuring compliance with taxation laws.
Financial Planning and Advisory: Assisting in financial planning, advising on financial management, and making recommendations to improve financial efficiency and performance.
Management Consulting: Providing insights and advice on business practices, financial management, and internal controls to improve operational efficiency.
Internal Controls Evaluation: Assessing and improving internal financial and accounting processes, controls, and systems to mitigate risk and enhance accuracy.
Liaison with External Parties: Working with external regulators and advisors, including tax authorities and external auditors, to provide required information and ensure compliance with financial regulations.

Job Requirements for NOC 1111 in Canada

Educational Background: A bachelor’s degree in accounting, finance, or a related field is the minimum requirement. For higher positions, a master’s degree in business administration (MBA) with a specialization in accounting or finance may be preferred.
Professional Designation: Attainment of a professional accounting designation is essential, such as Chartered Accountant (CA), Certified General Accountant (CGA), Certified Management Accountant (CMA), or Certified Professional Accountant (CPA). The process includes completing specific coursework, passing examinations, and fulfilling practical experience requirements.
Experience: Relevant work experience in accounting, auditing, or in a related financial area is often required. For senior roles, several years of experience, including supervisory or managerial experience, may be necessary.
Knowledge of Laws and Standards: Proficiency in financial and accounting software, knowledge of Generally Accepted Accounting Principles (GAAP), International Financial Reporting Standards (IFRS), and familiarity with tax laws and regulations.
Analytical and Detail-Oriented: Ability to analyze financial data, attention to detail, and the capacity to identify inconsistencies or inaccuracies within financial documents.
Communication Skills: Strong verbal and written communication skills are crucial for explaining findings, preparing reports, and working collaboratively with clients, management, and other stakeholders.
Ethical Standards: High ethical standards and integrity, as auditors and accountants are trusted with confidential financial information.
Continuous Learning: Commitment to continuous professional development, as laws, regulations, and technology evolve.

Median Hourly Wages by Provinces

Canada (Overall): Approximately $35/hour
Ontario: Approximately $37/hour
British Columbia: Approximately $36/hour
Alberta: Approximately $34/hour
Quebec: Approximately $33/hour
Manitoba: Approximately $32/hour
Saskatchewan: Approximately $31/hour
Nova Scotia: Approximately $30/hour
New Brunswick: Approximately $29/hour
Newfoundland and Labrador: Approximately $30/hour
Prince Edward Island: Approximately $28/hour

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