To enable students to apply financial auditing and data analysis techniques to assess whether loan disbursements have been utilized as per agreed terms and conditions.
To develop competencies in interpreting loan agreements, identifying discrepancies in fund utilisation, and evaluating compliance with regulatory and organizational policies.
To enhance skills in data collection, verification, and cross-referencing from multiple sources such as borrower statements, bank transactions, and physical or digital evidence.
To nurture critical thinking and problem-solving abilities by detecting irregularities or misuse of funds and proposing corrective actions or recommendations.
To strengthen professional communication through the preparation of comprehensive audit reports summarizing findings, risk implications, and suggestions for stakeholders.
To simulate real-world decision-making processes involved in loan monitoring, risk mitigation, and ensuring financial transparency and accountability within a lending institution.
Review a sample set of loan agreements and understand the stipulated terms and intended utilisation of the loan funds.
Collect and analyze transaction records, borrower reports, and other relevant documentation to verify the actual use of funds.
Identify inconsistencies or deviations from the agreed utilisation plan, quantifying any unutilized or misused amounts.
Apply data validation and reconciliation techniques using spreadsheet software or relevant financial tools to support findings.
Interview or simulate interaction with borrowers or account managers to clarify ambiguous entries or gather additional evidence.
Prepare a detailed utilisation check report outlining the audit process, findings, detected risks, and compliance status.
Provide strategic recommendations on improving the loan monitoring process or mitigating identified risks.
Present the audit findings and recommendations to a mock management panel, demonstrating effective communication and justification of conclusions.
Reflect on ethical considerations in loan utilisation assessments and the importance of accuracy and integrity in financial audits.
