Periodically, we check the oil in our cars and the pressure in our tires. Each winter, the furnace gets the once-over.
Preventive maintenance helps deter problems before they arise.
The vast majority of internal frauds are discovered by accident rather than by plan. Internal auditing is not designed to detect fraud, and a comprehensive fraud audit is too expensive to mount without reason. But, as with cars and furnaces, an ounce of prevention can head off problems and make for a smoother running operation. Hiring the right person for a position falls to human resource professionals at the bank. Human resources identifies the skills necessary to be successful, assesses the personality of coworkers and supervisors, and then begins looking for the perfect match.