I work for a 5000+employee hotel chain where we have over 200 internal auditors.We have recently started "process audits"whereby teams of 2 or more auditors take up core processes not pertaining to thier area of work and conduct audits.
My question is-as this is a learning experience,can this time devoted by the auditors for auditing be taken as training ?(as they are learning new processes which could help them in thier field of work).

Yes, just as coming here can be a type of training.

If information is conveyed and knowledge is gained, training (or learning) has taken place.

On-the Job Training (OJT) is a perfectly acceptable method of training. Often referred to as SOJT (Supervised or Structured On-the Job Training), trainees learn their jobs by performing their jobs.