If you have any experience programming with audio in iOS it's not that difficult, but if you've never programmed anything like this prepare to read some considerable amount of documentation.
What you need can be achieved using Audio Units. There are some Apple's examples, like Audio Mixer.
In short, Audio units are little pieces that you connect together to create an Audio Graph. You need to connect and Input Audio Unit routed to the microphone to an Ouput Audio Unit routed to the speakers.
At this point, it's hard for me (and for anyone) to say anything else on this subject that is not in the docs. Maybe when you make some progress your questions will be more specific.