The finance sector in Canada has a demand for accountants. They can find employment in either private sector accounting and auditing firms or departments or public sector accounting and auditing departments or units, or can be self-employed.
Median wage per hour
All jobs available in the labour market in Canada are classified as per the National Classification Code (NOC). Each of the occupation groups has a unique NOC code assigned.
In Canada, an individual working in an occupation with NOC 1111 can expect to earn somewhere between CAD 20.67/hour and CAD 58.17/hour.
The median or average wage for this profession is approximately CAD 35.00 per hour and the maximum wages for this profession is in the Canadian province of Northwest Territories which is CAD 51.37 per hour.
|Prevailing Hourly wages for NOC 1111 in Canada|
|Newfoundland and Labrador||19.23||31.25||48.08|
|Prince Edward Island||16.35||30.26||48.08|
Skills/Knowledge required for NOC 1111 in Canada
Generally, the following skills and knowledge will be required for working in Canada as a financial auditor and accountant –
|Skills||Analysis||· Analyzing information
· Researching and investigating
· Projecting outcomes
|· Advising and consulting
· Professional communicating
· Teaching and training
|Knowledge||Law and public safety||Law, government, and jurisprudence|
|Business, finance and management||· Accounting
|Essential skills||· Reading
· Document use
· Oral communication
· Digital technology
|Other essential skills||· Working with others
· Continuous learning
3-year job prospect-The job prospect in the next three years for this profession is fair in most of the provinces of Canada.
Future job prospects for NOC 1111 in Canada, by province and territory —
|Job prospects||Location in Canada|
|Good||· New Brunswick
· Northwest Territories
· Nova Scotia
· British Columbia
· Newfoundland and Labrador
· Prince Edward Island
For this profession, 10% of the openings will remain vacant in the next ten years due to skill shortage.
Chartered accountants require a university degree and completion of a technical training program accredited by a Provincial Institute of Chartered Accountants and, depending on the jurisdiction, on-the-job training and membership in a Provincial Institute of Chartered Accountants following satisfactory completion of the Uniform Evaluation (UFE).
Certified general accountants and certified management accountants require a university degree and completion of a training program approved by the Certified General Accountants or Management Accountants Society, and several years of on-the-job training and certification by the Certified General Accountants Association or the Society of Management Accountants.
Apart from the relevant degree and training, accountants will have to have some work experience.
Accountants will require certification from a regulatory authority for working in any of the provinces on Canada.
Professional license requirements
Usually, licensing by the provincial or territorial governing body will be required for accountants and auditors intending to practice public accounting in Canada.
A certification from the relevant regulatory authority might be needed before you can start working in Canada with NOC 1111 as your occupation code.
NOC 1111 is regulated in all the provinces and territories in Canada.
|Provincial regulation requirements in Canada for NOC 1111|
|Location||Job Title||Regulatory body|
|Alberta||Chartered Professional Accountant||Chartered Professional Accountants of Alberta|
|British Columbia||Chartered Professional Accountant||Chartered Professional Accountants of British Columbia|
|Auditor (public Accountant)||Auditor Certification Board, Government of British Columbia|
|Manitoba||Chartered Professional Accountant||Chartered Professional Accountants Manitoba|
|New Brunswick||Chartered Professional Accountant||Chartered Professional Accountants New Brunswick|
|Newfoundland and Labrador||Chartered Professional Accountant||Chartered Professional Accountants of Newfoundland and Labrador|
|Northwest Territories||Chartered Professional Accountant||Chartered Professional Accountants – Northwest Territories / Nunavut|
|Nova Scotia||Chartered Professional Accountant||Chartered Professional Accountants of Nova Scotia|
|Public Accountant||Public Accountants Board of the Province of Nova Scotia|
|Nunavut||Chartered Professional Accountant||Chartered Professional Accountants – Northwest Territories / Nunavut|
|Ontario||Chartered Professional Accountant||Chartered Professional Accountants of Ontario|
|Public Accountant||Public Accountants Council for the Province of Ontario|
|Prince Edward Island||Chartered Professional Accountant||Chartered Professional Accountants of Prince Edward Island|
|Quebec||Chartered Professional Accountant||Ordre des comptables professionnels agréés du Québec|
|Saskatchewan||Chartered Professional Accountant||Institute of Chartered Professional Accountants of Saskatchewan|
|Yukon||Chartered Professional Accountant||Chartered Professional Accountants of British Columbia|
- Planning, setting up and maintaining accounting systems and preparing financial statements for entities, departments within organizations, businesses and other institutions
- Examine financial documents, and prepare accounts and reports
- Develop and maintain cost-finding procedures, reporting and internal control
- Analyze reports and financial statements and provide legal, company and tax advice
- Can act as trustee in insolvency proceedings
- May oversee and train students in articling, other accountants, or administrative technicians.
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