Explore Careers - Job Market Report
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.
accountant, certified general accountant (CGA), certified management accountant (CMA), chartered accountant (CA), chief accountant, financial auditor, income tax expert, industrial accountant, internal auditor.
- 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.
- 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.
Outlook & Prospects for Financial Auditors and Accountants in Outaouais Region
The future forecast and current conditions for an occupation can vary based on location or due to changes in the economy, technology, or demand for a product or service.
National Outlook – 10-Year Projection (2011-2020)
This section provides labour demand and labour supply projections for this occupation over the 2011-2020 period.
Note: The tables, graphs and middle paragraph shown under this section display updated 2011-2020 projection results. The remaining narrative text (2009-2018 projections) will be updated shortly. We apologize for the inconvenience.
The data in the following table are derived from HRSDC’s Canadian Occupational Projection System (COPS). COPS uses a variety of models to produce a detailed 10-year labour market projection per broad skill level and per occupation at the national level, which focuses on the trends of labour supply and labour demand over the next ten years.
This occupation (Financial Auditors and Accountants) is part of a larger occupational group called Auditors, Accountants and Investment Professionals (NOC 111).
|Occupations in this group||
Financial Auditors and Accountants (1111)
Financial and Investment Analysts (1112)
Securities Agents, Investment Dealers and Brokers (1113)
Other Financial Officers (1114)
|Employment (non-student) in 2010||361,128|
|Median Age of workers in 2010||43|
|Average Retirement Age in 2010||62|
Occupation Projection for Canada
Over the 2008-2010 period, this occupation experienced higher-than-average employment growth, while growth in wages was slightly lower than the average for other occupations. The unemployment rate increased slightly but remained below the average unemployment rate for all occupations. The number of job seekers was sufficient to fill all job openings.
Over the 2011-2020 period, an occupation will be in excess demand (a shortage of workers) if the projected number of job openings is significantly greater than the projected number of job seekers. An occupation will be in excess supply (a surplus of workers) if the projected number of job openings is smaller than the projected number of job seekers. For Auditors, Accountants And Investment Professionals, over the 2011-2020 period, job openings (arising from expansion demand and replacement demand) are expected to total 168,834 and 138,270 job seekers (arising from school leavers, immigration and mobility) are expected to be available to fill the job openings.
Based on projections and considering that labour supply and demand in this occupation were balanced over the recent period, it is expected that the number of job seekers will continue to be sufficient to fill job openings in this occupation over the 2011-2020 period. In fact, the difference between supply and demand will be only 0.8% of employment in 2010. Retirements will account for the majority of job openings. Although the retirement rate in this occupation will be on par with the average for all occupations over the projection period, there will be a sharp increase in the number of retirements relative to the 2001-2010 period. This increase can be explained by the fact that workers in this occupation are older on average and retire somewhat earlier than other workers. In contrast, the number of new jobs created (expansion demand) will be far lower than in the 10 years preceding the projection period. This slower rate of employment growth (which is nonetheless average) is due in particular to a smaller increase in demand for investment specialists than in the past, and to the real-estate market slowdown. Just like demand, the number of job seekers will increase slightly over the 2011-2020 period. Job seekers will come mainly from the school system. Finally, a number of workers will leave for other occupations, generally in management.
This Chart contains data for Projection of Job Openings vs. Job Seekers for Canada. Information is available in the following tables.
|Other Replacement Demand||12,349||7%|
|Projected Job Openings||168,834||100%|
|Projected Job Seekers||138,270||100%|
In which industry or sector do people in this occupation find jobs in Canada?
This table shows the industry and sectors employing the highest number of people in this occupation.
|Industry / Sector||%|
|Professional, scientific and technical services||40.50|
|Finance and insurance||6.70|
What percentage of people in this occupation are self-employed?
The graph displays the percentage of people in this occupation who are “self-employed”, according to the 2006 Census, in comparison to the Canadian average across all occupations.
As shown in the graph, according to the 2006 Census, 18% of people in this occupation were self-employed, while the average for all occupations was 12%.
The Labour Force Survey also gives us some information about self-employment. This occupation (Financial Auditors and Accountants) is part of a larger group called Auditors, Accountants and Investment Professionals (NOC 111). According to the Labour Force Survey (2009), 24% of workers in this group were self-employed, while the average for all occupations was 16%.
What proportion of people in this occupation work full-time?
The graph displays the proportion of people in this occupation who worked full-time and part-time in comparison to the Canadian average across all occupations.
According to the Labour Force Survey (2009), 91% of workers in this occupation worked full-time, compared to the average of 81% for all occupations.
What is the proportion of women working in this occupation?
The graph displays the proportion of men and women in this occupation in comparison to the Canadian average across all occupations.
According to the Labour Force Survey (2009), women represented 55% of workers in this occupation, compared to the average of 48% for all occupations.
What percentage of people in this occupation are members of a union?
This occupation (Financial Auditors and Accountants) is part of a larger group called Auditors, Accountants and Investment Professionals (NOC 111). According to the Labour Force Survey (2009), the unionization rate for this group was 16%, while the unionization rate for all occupations was 31%.
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