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Financial Auditors and Accountants
NOC: 1111
Description
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.
Essential Skill Level Required Example Task
Reading Text 1 to 4 Read brief emails from co-workers, managers and clients (1)
    Read letters from co-workers, managers and clients (2)
    Read minutes from meetings (3)
    Read policies and procedures from their own or client’s companies (4)
 
Document Use 2 to 3 Locate data in entry forms (2)
    Interpret graphs of financial variables (3)
 
Writing 1 to 4 Write reminders and meeting notes (1)
    Write emails and letters to co-workers, managers and clients (2)
    Write short reports and summaries (3)
    Write lengthy accounting and auditing reports (4)
 
*Numeracy 2 to 5 Calculate expense claim amounts (2)
    Calculate invoice amounts (3)
    Prepare financial summaries (4)
    Maintain and monitor budgets for businesses (5)
 
Oral Communication 2 to 3 Discuss a variety of accounting topics with co-workers and clients (2)
    Provide direction and provide instruction to staff they supervise (3)
 
Computer Use 2 to 3 May use databases (2)
    Use word processor (3)
 
Thinking Skills 2 to 3 Find discrepancies in financial summaries (2)
    Choose investments for clients (3)
 
Thinking Skills - Problem Solving Data currently being updated
 
Thinking Skills - Decision Making Data currently being updated
 
Thinking Skills - Critical Thinking Data currently being updated
 
Thinking Skills - Job Task Planning and Organizing Data currently being updated
 
Thinking Skills - Significant Use of Memory Data currently being updated
 
Thinking Skills - Finding Information Data currently being updated
 
*Numeracy includes: Money Math, Scheduling or Budgeting and Accounting Math, Measurement and Calculation Math, and Numerical Estimation.
**Thinking Skills include: Problem Solving, Decision Making, Critical Thinking, Job Task Planning and Organizing, Significant Use of Memory, and Finding Information.
View the external profile (new window) Source: HRSDC
Average Salary: 25.69
Source: http://www.labourmarketinformation.ca
To Be successful in this position, a person may need:
Literacy & Basic Skills, Grade 12, College
Source: HRSDC
Most Important Skills:
Document Use, Numeracy, Critical Thinking
Source: HRSDC
Age Profiles

Age Bracket Age Profile
15 to 24 40
25 to 44 770
45 to 64 610
65 plus 60
Employment Trends

Employment opportunities for Financial Auditors and Accountants in the Niagara area are expected to be average over the next few years, with the current supply generally meeting the demand. According to the census, employment in this occupation has declined over the past five years in the Niagara Area. This occupation has an average age profile, with just over half under the age of 45 years. Retirements will not create a large number of job openings.

Employment for this occupation is expected to be good through to 2009 in Ontario. Given the large size of this occupational group replacement needs will create a substantial number of new positions yearly. In addition, the growth in the number of new businesses, the need for greater financial efficiencies and increased accountability will continue to fuel job demand for this occupation over the next few years.

Recent changes to the Ontario Public Accounting Act now enable qualified Chartered Accountants, Certified General Accountants and Certified Management Accountants to obtain a licence to practise public accounting which was once restricted to Chartered Accountants. This consolidation will increase competition within the industry. Employment opportunities will be best for those who possess broad computer software experience, budget analysis and taxation skills, financial and investment planning and information technology consulting experience. Recent global accounting scandals will also make forensic and investigative accounting experience more valuable as firms are placed under greater financial scrutiny. In the future, accountants will need to assist management with planning and internal accounting practices in order to reduce exposure to risks and improve financial operations.

Source: http://www.labourmarketinformation.ca
Top Occupational Areas

Sector Number Employed in Niagara Percentage
54 Professional, scientific and technical services 630 56.76%
91 Public administration 225 20.27%
31-33 Manufacturing 165 14.86%
72 Accommodation and food services 90 8.11%
Source: Niagara Workforce Planning Board
Related Occupations

Bookeepers (1231), Financial Managers (0111), Program and other non-financial auditors (in 416 Policy and Program Officers, Researchers and Consultants).

Source: http://www.labourmarketinformation.ca