This is what happens when you don’t audit.
We had a treasurer of our group who opposed a committee to oversee the finances. We replaced her immediately. No harm was done.
Also what happens when there are no internal checks and balances. There should be AT LEAST TWO, better THREE, procedures involved, one overseeing the other, and all balancing against each other. Accountability is healthy for all concerned and discourages any temptation to go off course.
Strangely enough, I actually know a guy who embezzled a million dollars.
He was the controller of a company where I used to work.
He had gambling problems, football betting mostly.
I was astonished at how light the punishment was for stealing that much money. He did around 2 yrs. in the Federal resort prison where the Watergate people went. He was ordered to pay restitution (yeah, like THAT will ever happen).
In a sense he pretty much got away with it.