Auditor, Fraud Investigator, Inspector, Investigator
In Canada, the federal government groups and organizes occupations based on a National Occupational Classification (NOC) system. This alis occupation may not reflect the entire NOC group it is part of. Data for the NOC group can apply across multiple occupations.
The NOC system is updated every 5 years to reflect changes in the labour market. Government forms and labour market data may group and refer to an occupation differently, depending on the system used. Here is how this occupation has been classified over time:
| Starting | $31.34 |
|---|---|
| Overall | $38.15 |
| Top | $46.86 |
Interest in conducting field audits of businesses to ensure compliance with provisions of the Income Tax Act, Canada Business Corporations Act and other statutory requirements
Interest in co-ordinating information from financial and accounting records, documents and systems to evaluate operational procedures and financial positions of individuals, departments, companies and other establishments
Interest in consulting with clients and in making recommendations to improve accounting and management practices; may supervise other auditors or professionals in charge of accounting within client's establishment
The interest code helps you figure out if you’d like to work in a particular occupation.
It’s based on the Canadian Work Preference Inventory (CWPI), which measures 5 occupational interests: Directive, Innovative, Methodical, Objective and Social.
Each set of 3 interest codes is listed in order of importance.
A code in capital letters means it’s a strong fit for the occupation.
A code in all lowercase letters means the fit is weaker.
Internal auditors systematically collect and analyze information about the organization's management framework, internal controls, information systems, procedures and outputs to:
Internal auditors also:
To perform detailed reviews, internal auditors must travel to the offices being audited. This may mean travelling across the city or across the country depending on the organization. Hours of work usually are standard office hours but overtime may be required at year end or to meet project deadlines.
Internal auditors need the following characteristics:
They should enjoy being methodical and persistent, finding innovative solutions to problems and working with others.
Auditors come from various backgrounds including accounting, business, information systems, engineering or economics. Some employers require a university degree that directly relates to the nature of the organization's business.
In general, the minimum qualification is a bachelor's degree or a professional designation such as:
Institute of Internal Auditors also offers the following certification programs for auditors:
Information systems auditors may qualify for the Certified Information Systems Auditor (CISA) designation from the Information Systems Audit and Control Association in Illinois.
The following schools offer programs or courses that are related to this occupation but are not required to enter the field.
For a broad list of programs and courses that may be related to this occupation try searching using keywords.
Certification is not required, as there is currently no legislation regulating this occupation.
Internal auditors are employed by:
Some corporations use internal audit as a training ground for management positions. Internal auditors get a good overall perspective of an organization's operations because they usually are responsible for auditing all areas. They also make recommendations directly to senior management and have access to the Board of Directors through the Audit Committee. Advancement opportunities are therefore good.
Internal auditors are part of the larger 2011 National Occupational Classification 1111: Financial auditors and accountants. In Alberta, 78% of people employed in this classification work in the following industries:
The employment outlook in this occupation will be influenced by a wide variety of factors including:
Over 31,100 Albertans are employed in the Financial auditors and accountants occupational group. This group is expected to have a below-average annual growth of 1.4% from 2016 to 2020. As a result, 435 new positions are forecast to be created each year, in addition to job openings created by employment turnover. Note: As internal auditors form only a part of this larger occupational group, only some of these newly created positions will be for internal auditors.
Employment turnover is expected to increase as members of the baby boom generation retire over the next few years.
| Wages* | Low (5th percentile) | High (95th percentile) | Average | Median |
|---|---|---|---|---|
| Starting | $18.75 | $55.49 | $31.34 | $28.85 |
| Overall | $21.63 | $61.67 | $38.15 | $35.13 |
| Top | $25.00 | $80.00 | $46.86 | $41.74 |
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* All wage estimates are hourly except where otherwise indicated. Wages and salaries do not include overtime hours, tips, benefits, profit shares, bonuses (unrelated to production) and other forms of compensation.
High Reliability, represents a CV of less than or equal to 6.00% and 30 survey observations and/or represents 50% or more of all estimated employment for the occupation.
| Oil & Gas Extraction | $98,191 |
|---|---|
| Wholesale Trade | $87,046 |
| Construction | $81,717 |
| Public Administration | $81,129 |
| ALL INDUSTRIES | $75,474 |
| Business, Building and Other Support Services | $75,330 |
| Educational Services | $75,258 |
| Agriculture | $74,601 |
| Manufacturing | $72,242 |
| Transportation and Warehousing | $71,310 |
| Other Services (Repair, Personal Services and Related) | $67,431 |
| Information, Culture, Recreation | $66,348 |
| Professional, Scientific & Technical Services | $65,411 |
| Retail Trade | $64,703 |
| Accommodation & Food Services | $63,980 |
| Finance, Insurance, Real Estate, Leasing | $63,601 |
| Health Care & Social Assistance | $61,963 |
Certified General Accountants of Alberta website: www.cga-alberta.org
Information Systems Audit and Control Association (ISACA) website: www.isaca.org
Institute of Internal Auditors (IIA) Canada website: https://chapters.theiia.org/IIA%20Canada/Pages/default.aspx
Institute of Internal Auditors (IIA) Edmonton Chapter website: chapters.theiia.org/edmonton
Institute of Internal Auditors (IIA) Calgary Chapter website: https://chapters.theiia.org/calgary/Pages/default.aspx
Society of Management Accountants of Alberta website: www.cma-alberta.com
For more information on career planning, education and jobs, visit the Alberta Learning Information Service (ALIS) website, call the Alberta Career Information Hotline toll-free at 1-800-661-3753 or 780-422-4266 in Edmonton, or visit an Alberta Works Centre near you.
Updated Feb 11, 2013. The information contained in this profile is current as of the dates shown. Salary, employment outlook and educational program information may change without notice. It is advised that you confirm this information before making any career decisions.