Financial auditors and accountants

Chartered Professional Accountants (CPAs) require a university degree (or equivalent work experience), completion of a training program approved by the provincial/territorial regulatory body, 24 to 30 months of on-the-job training (differs by province), and successful completion of summative examinations.

Certification with the Chartered Professional Accountants body is required in all provinces and territories. The Chartered Professional Accountants of British Columbia (CPABC) is the province’s regulator for CPAs and is part of the national Chartered Professional Accountants of Canada (CPA Canada).

For more information about the CPA designation, visit 
www.bccpa.ca/become-a-cpa/.

CPAs holding positions as financial auditors and other public accounting experts may be expected to have additional credentials, including:

• Recognition from the Institute of Internal Auditors
• A licence as a trustee in bankruptcy
• Licensing by the provincial or territorial governing body for accountants and auditors practising public accounting

People who have not obtained a CPA designation, but who work in unregulated financial positions may need a bachelor’s degree in accounting or accounting science, a university certificate in accounting or administration, or a diploma of collegial studies (DEC) in accounting and management technology. Other requirements may include:

• A great deal of experience in the related occupations of accounting clerk or bookkeeper
• An understanding of Excel and standard accounting software programs

Financial auditors and accountants who are certified for that occupation by a regulator elsewhere in Canada can apply for the same certification from the regulator in B.C. Under the terms of the Canadian Free Trade Agreement (CFTA), most applicants who are transferring their credentials from elsewhere in Canada will not be required to complete additional training or testing. However, the B.C. regulator may ask applicants to provide further information such as a letter of good standing, references, or criminal record check.

For those who trained outside of Canada and never received certification from any Canadian jurisdiction, a full assessment is likely needed. Most occupational regulators have a process for assessment and recognize internationally trained applicants.

Contact the Chartered Professional Accountants of British Columbia (CPABC) for details on how to apply for certification in B.C.

For information about labour mobility in Canada, visit www.workersmobility.ca.

View a list of Professional Regulatory Authorities in B.C.

Discover data, facts and information that have been gathered and analyzed. Learn about the characteristics of the economy and labour market in B.C.

Find out about employment types and trends by region and industry.

The B.C. Labour Market Outlook is a 10-year forecast of the expected supply and demand for labour in the province. It’s usually updated every year. The purpose is to provide British Columbians with the knowledge to make informed decisions on careers, skills training, education and hiring.

Learn about the opportunities in B.C.'s major industries, including employment trends, earning potential, locations of work and more.

Technology has changed the accounting profession. As more accounting functions become automated, auditors and accountants can spend more time understanding financial information and creating management strategies. In addition, things like blockchain, cryptocurrency and other changing areas of focus require people in this career to continue to learn both through formal training and by keeping up to date through media, lectures and industry conferences.

The role of an accountant is expanding and as a result, people in this profession are taking on new responsibilities, such as:

• Financial strategy development
• Financing leadership and support
• Creating financial systems to support the strategic direction of an organization
• Financial information analysis
• Environmental safety assessments
• Computer system audits
• Corporate restructuring

Many of the higher-level roles are better suited to Chartered Professional Accountants rather than undesignated accountants. More and more, financial auditors work with systems, rather than the data itself, to make sure that the systems work and that the data is kept confidential. In the past, this role was limited to financial auditing, but in today’s world, their duties are growing, and financial auditors are being asked to create company-wide financial plans.

Accountants may be asked to give their opinions on the security of the company’s financial information, its financial health or how well its systems work. In addition, they may be asked to review and show any potential risks to the company’s financial health.

Some employers may want to hire financial auditors or accountants that have skills that are not specific to financial work. This could include being able to work in diverse groups and to present ideas to others. A person in this role might also need to have public speaking or leadership skills. They should also be able to actively listen to co-workers and clients, and to connect with clients and to help build professional relationships.

In many cases, professional accountants in Canada follow international standards of practice. With the increase in trade between Canada and other countries, new opportunities are coming up for accountants and financial auditors who speak more than one language. More employers want accountants and auditors with international experience and knowledge, including how to handle foreign exchange management and sales tax issues.