What are Financial Auditors and Accountants?

Financial Auditors examine and analyse the accounting and financial records of individuals or establishments to ensure accuracy and compliance with established accounting standards and procedures.  Accountants plan, organize and administer accounting systems for individuals and establishments.

   Are Financial Auditors and Accountants regulated?

The professions of financial auditor and accountant are regulated in all provinces and territories of Canada.  The three major accounting organizations in Ontario are identified below, and each has its own professional designation:

The Institute of Chartered Accountants of Ontario
Certified General Accountants Association of Ontario
Certified Management Accountants of Ontario

   Can I work as an accountant without a designation?

You can work as an “accountant” without a designation; however, you will be limited in your responsibilities and career advancement possibilities.

   What is the difference between the 3 accounting designations?

The difference between the three accounting designations have diminished with recent changes to the Ontario Public Accounting Act, which now enable qualified Chartered Accountants, Certified General Accountants and Certified Management Accountants to obtain a licence to practise public accounting.  Under the old Act, public accounting licences were largely restricted to Chartered Accountants.

   Where can I find an occupation profile for this profession?

Ontario Job Futures
Working in Canada
Canadian Information Centre for International Credentials (CICIC)

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