Financial Auditor and Accountant (NOC 1111)

Description of the profession

Auditors review and analyze the accounting records and financial records of individuals or companies to ensure the accuracy of the records in accordance with generally accepted accounting principles. Accountants plan, organize and administer accounting systems for individuals or businesses. Auditors and accountants are employed by public and private sector accounting and auditing firms, or they may be self-employed.

Auditors perform some or all of the following duties:

Auditors

• Examine and analyze the books of accounts and general ledgers, statements of accounts, inventories, expenses, tax returns and other accounting documents, records and financial systems of individuals, departments within businesses or corporations, or any other type of establishment to verify the accuracy of entries and to ensure compliance with established accounting policies, procedures and internal audits;
• Prepare a detailed audit report and make recommendations to improve the accounting practices and financial situation of the individual or institution;
• Conduct audit missions, on occasion, in companies to ensure compliance with the provisions of the Income Tax Act, the Canada Business Corporations Act and other legal obligations; and
• Supervise other auditors or people responsible for accounting at client sites, as needed.

Accountants

• Design, implement and manage accounting systems and prepare financial information for individuals, departments within companies, corporations or other types of institutions;
• Review accounting records and prepare financial statements and reports;
• Design and implement cost identification and accounting methods and internal control procedures;
• Review financial statements and accounts and prepare tax returns;
• Analyze financial statements and reports and provide financial or tax advice;
• Perform duties, on occasion, as liquidator in bankruptcy cases; and
• Supervise and train accounting trainees, other accountants or administrative technicians if required.