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Apprenticeships in internal audit

New apprenticeships in internal audit

At the start of 2017, the Chartered IIA brought together a 'trailblazer group' of employers to lead the creation of an internal audit apprenticeship programme to ensure that internal audit could benefit from the opportunities arising from the new apprenticeship levy.

Over the last 18 months, the trailblazer group has been developing two apprenticeships: internal audit practitioner (level 4) and internal audit professional (level 7). To ensure they were developed with the support of the profession, we conducted a consultation to get views from across all sectors and from employers at organisations of all sizes.

The apprenticeship programmes are now ready for delivery and the first apprentices will be able to start their programme in September 2018.

Read more about internal audit practitioner and internal audit professional

Useful links for new apprentices

If you have recently started your apprenticeship programme please join the Chartered IIA. If you're taking the internal audit practitioner programme, the IIA Certificate will form part of your learning package and you can choose your tuition workshops here.

Benefits for the employer

The Apprenticeship Levy was introduced in April 2017, aimed at creating an additional three million apprenticeships by 2020. All employers who have an annual pay bill of more than £3 million are required to contribute 0.5% of the bill towards the levy. Each employer receives an allowance of £15,000 to offset against their levy agreement. The money is deducted monthly by PAYE. Employers in England who pay the levy will be able to get out more than they pay in, through a 10% top-up to their online accounts.

For those employers who aren’t eligible for the levy, the government will co-fund 90% of the costs of an apprenticeship, leaving 10% for the employer to contribute.

Apprenticeships benefit employers and individuals, and by boosting the skills of the workforce they help to improve economic productivity.

Offering an apprenticeship in internal audit is a long-term investment and allows you an opportunity to grow your own talent. Apprentices combine on-the-job training in your organisation with off-the-job learning, providing an effective way for you to develop your skills base.

Your role as an employer:

  • identify apprentices suitable for the apprenticeship
  • pay the apprentice at least the Apprenticeship National Minimum Wage, and provide them with the same benefits as other employees
  • make sure the apprentice undertakes real, productive work which gives them opportunities to access, develop, practice, and evidence the knowledge and skills required to meet the standard
  • allow the apprentice to attend external off-the-job training and assessments as part of their paid working hours
  • take part in regular reviews with the training provider to review the apprentice’s progress
  • liaise with the provider regarding the end-point assessment
  • ensure that the apprenticeship lasts for a minimum of 12 months, and that the apprentice is employed for the full duration of their apprenticeship

Benefits for the apprentice

An apprenticeship in internal audit is a real job with structured training which gives you the opportunity to work towards an IIA qualification.

It helps you gain the skills and knowledge you need to succeed in internal audit. Getting into employment earlier means there’s lots of potential for you to progress in your career quickly.

An apprenticeship gives you fantastic experience in the working world and show employers that you can ‘hit the ground running’. Hands-on training gives you a real chance to put your skills into practice and helps you to gain more confidence in a working environment.

As you are employed during your apprenticeship, you are entitled to a minimum wage and other statutory benefits (such as sick pay, holiday and maximum working hours) offered to employees. If an employer offers extra benefits to their employees (such as healthcare plans or childcare allowances), then they may also be offered to you too!

Further reading

Institute for Apprenticeships
What do apprenticeship levels mean?
About the apprenticeship levy

Read our technical blog: Apprenticeship levy - what does it mean for your business?