Not that I know of by a setting on the iPad itself. You can however block the updates from being downloaded to the device in the first place. This requires you to setup an access restriction on your Wi-Fi router (if your router supports this option). The websites to block access to are:
mesu.apple.com
appldnld.apple.com
Note that when setting up these access restrictions, the block will only apply when the devices are connected to that particular network. If the device connects to another Wi-Fi network without the block in place, the iOS update can easily be downloaded.
Note also that an update is never automatically run...it requires actual user-intervention to install the update. The updates can however be auto-pushed (but as mentioned, never auto-installed) by Apple to the device if:
1. The device has the necessary free storage space for the update.
2. The device is connected to a valid Wi-Fi network (without the access restriction/block in place)
3. The device is connected under external power (connected to a PC via USB or connected to a USB charger)
Beginning with iOS 7, the user can delete the iOS update if it has been downloaded to the device and before it has been run (if it's run, it's too late anyways and has been installed). The update can be deleted under Settings/General/Usage/Storage/Manage Storage. It will appear in this list and can be deleted by tapping on the "iOS update" app, then tapping the "Delete App" button.
Another way to prevent the iOS updates from being installed on the device is to fill up it's internal storage space leaving only about 2GB free.. If there's not enough space on the device for the update, it can't be installed on the device nor run. But then again, space can always be freed up by the user, circumventing this method.