Software provider AuditBoard is teaming up with the Institute of Internal Auditors to provide some relief for members of the internal audit profession who have been adversely affected by the coronavirus crisis.
The two organizations announced the launch of a $500,000 scholarship program to provide access to training and educational courses for internal auditors who have been laid off or furloughed as a result of the COVID-19 pandemic and related economic downturn.
The scholarships can be used by internal auditors to participate in IIA training and certification programs regardless of their professional level or ability to pay. As with many professions, internal auditors have seen mounting job losses and other cutbacks over the past several months. A recent IIA survey found that 21 percent of audit teams were forced to reduce staff this year as a result of the pandemic.
This scholarship program, called the Elevate Internal Audit Scholarship Program, “reflects both AuditBoard’s goal of elevating the audit profession through technology and education and the IIA’s mission to advance the profession by providing educational and training opportunities based on a global set of standards, guidance, and certifications,” the two organizations said in a joint statement.
“The internal audit community is facing the dual challenges of a fast-changing risk environment and difficult market conditions, including unfortunate layoffs and furloughs,” said Scott Arnold, President and CEO of AuditBoard, a cloud-based software platform for managing risk, audit, and compliance work. “As a company that believes in the power and purpose of the audit community, we’re proud to partner with The IIA to help internal auditors grow professionally and expand the modern audit skills needed to position them well for their next career step and their future.”
“Organizations of all sizes are facing unprecedented challenges from the twin impacts—health and economic—of this unrelenting virus, making internal audit’s role to support sustainability that much more crucial,” said IIA North American Board Chair Nancy Haig. “Providing education and training to internal auditors is core to what we do. By helping internal auditors affected by job cuts access our programs without regard to cost, they will be able to maintain and even advance their skills, enabling a quicker transition back to work as the economy recovers.”
Applications for the Elevate Internal Audit Scholarship Program are now being accepted from internal auditors and those pursuing an internal audit career and who are currently experiencing a pandemic-related layoff or furlough in the United States and Canada. The scholarships cover the cost of select course bundles focused on modern internal audit practices and innovation. The IIA’s premier Certified Internal Auditor (CIA) certification and the AuditBoard Modern Audit Technology course also are included in the scholarship program.
To learn more or to apply for a scholarship, please visit Auditboard.com/Elevate. 