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.
There are two apprenticeships in development: internal audit practitioner and internal audit professional. To ensure they are 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.
You can read more about the two apprenticeships here:
The ‘trailblazer group’ was created following the release of the new apprenticeship levy. By providing a new route into a career in internal audit we will be able to tap into a new talent pool of people, including those with some experience in other fields but no degree.
We also see the creation of an apprenticeship in internal audit as an assertion of the status of the profession as distinct and valuable to UK business.
An employer has much to gain from taking on these apprenticeships. The cost of apprenticeships training can be fully or partly funded by the new levy. Apprenticeships are an effective and efficient means of developing a pipeline of talent tailored to the company’s culture and required skill set.
We are very pleased to advise that the new standards for apprenticeships in internal audit have been formally approved by the Institute for Apprenticeships. However, before they are ready for delivery, we await news of the funding band (core government contribution) which has been assigned to each apprenticeship standard, alongside formal approval of the end point assessment plans recently submitted. The trailblazer group expects to receive the outcome of these by June 2018, with apprentices starting in autumn 2018.
For further information on apprenticeships and how they work please visit:
Read our technical blog: Apprenticeship levy - what does it mean for your business?