job postings internal auditor jobs in canada

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internal auditor Jobs

all about internal auditors

You are your company’s expert in legislation and current best practices. You provide recommendations that protect your company’s assets, advise management on how to prevent fraud, and avoid non-compliance. You conduct thorough reviews and report on how to strengthen your organization and manage risks that could leave it vulnerable.

Internal auditors' main role is to safeguard the stability of their organization. You oversee proper accounting practices and reporting, preventing errors or fraud, develop public trust, and foster investor confidence. Large corporations learned a hard lesson from financial reporting scandals, such as Enron in the late 1990s. As a result, qualified internal auditors are in demand and essential to business success.

what internal auditor jobs entail

You spend your time assessing risks, analyzing opportunities, ensuring the accuracy of financial statements, educating senior management about critical issues, investigating fraud, detecting wasteful spending, and recommending stronger controls. Yopu work 9 to 5 in an office environment. You report to the CFO or another leader in the finance department. You work with financial statements, IT systems, reports, and a team of finance professionals with the possibility of travelling to branch offices in other cities.

average internal auditor salaries in canada

In their first year on the job, internal auditors can expect to between $50,000 and $60,000 per year, depending on their location in Canada. After many years of experience, internal auditor salaries can climb over the $95,000 per year mark, particularly in major finance centres and metropolitan areas.

your day to day tasks

As an internal auditor, you’ll provide key insights into the day-to-day operations of your business. You’ll play an important role in developing the policies and procedures as you work with management and board members. Your daily tasks mayinclude:

  • analyzing operations and policies
  • checking the accuracy of financial documents and systems
  • conducting interviews with employees and managers to collect information
  • reviewing and testing internal controls and company performance to ensure compliance with regulations
  • collaborating with executives to establish internal processes
  • identifying financial opportunities, risk aversion measures, and cost savings
  • preparing and presenting reports
  • applying new rules, regulations, best practices and standards
  • where you can work
  • Large corporations in all industries, governments, and nonprofit organizations in major cities employ internal auditors across Canada. As a result, you’ll find the demand for certified internal auditors everywhere, especially in large metropolitan areas such as Vancouver, Calgary, Winnipeg, Toronto, and Montréal.

what you bring to the table

If you already have experience in accounting or auditing work and have demonstrated your understanding of financial controls, you may be ready to take the next step in your career as an internal auditor. To serve your organization well, you must have:

  • analytical and problem-solving abilities
  • written and verbal communication skills
  • organization and project management
  • advanced knowledge of financial systems
  • knowledge of accounting practices and internal controls
  • high regard for moral, ethical, and professional standards
  • ability to make sound judgments and recommendations

training and certifications

As an internal auditor, you’ll need to a post-secondary education in finance or commerce. You should pursue a degree in Business Administration or Accounting, and then consider an MBA to compete with others in your field. You should then attain one of the following designations to develop an in-depth knowledge of financial auditing:

  • CPA (Certified Public Accountant)
  • CIA (Certified Internal Auditor)
  • CISA (Certified Information Systems Auditor)
  • CGAP certification (Certified Government Auditing Professional) - this certification is most relevant if you aspire to work in the public sector
  • The eligibility requirements for certification may include auditing work experience, a character reference, and your formal agreement to a code of ethics.

where your career is headed

Focus on a systematic, disciplined approach when evaluating the effectiveness of risk management, controls, and governance processes. Once you’ve built a strong foundation of knowledge and experience, you might consider executive development to become a lead, manager, or chief audit executive (CAE). Apart from formal learning and work experience, you can expand potential opportunities by networking with the top executives of organizations, whether they are international, private, public, or nonprofit.

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