Q.95 The Baring's case revolves around Nick Leeson, a British trader, who was later appointed as the general manager and head trader of Barings Futures Singapore. He could place orders on his own. He was also in charge of accounting and settlements, and there was no direct oversight over his trading book. This allowed him to create a dummy account where he would dump all losing trades. As far as the London office was concerned, Leeson was reporting profits after profits on his trades. By the time his dealings came to light, Barings had lost approximately $1.25 billion. Which of the following is a lesson learned from the Barings downfall?