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Among the disappearance of valuable assets, a few of the possible culprits causing losses may be found as financial personnel and floor employees. Other possible thieves of valuable company assets that are often less visible include service writers/technicians, and custodians. Of these employees, the most criticized in the organization of a business this year happens to be the financial personnel.
The financial personnel, usually referred to as account managers or book keepers, are those who the company depends on and trusts to handle financial matters. In some cases, all trust is put into the account manager to handle financial records, and it is likely that he or she may take advantage of the trust. The usual account mismanagement involves false records. These records are logged purposely with fake expenses or fake revenues (whatever favors the accountant's purpose). The P&L (Profits and losses/Income statement) statement may list bogus expenses, when those expenses merely cover up the embezzlement activities, and the balance sheet may be illegally balanced.
Sometimes the financial activity is not logged at all. In the Enron crime, a midlevel executive was found to be making sales (wind farms in California) without reporting them correctly. This led to tax evasion, and others managing the Enron account were exposed and caught for wire fraud, conspiracy and money laundering. .
Some account managers may cut checks for small amounts of money and make the checks out to themselves. To make sure that everything goes smoothly, he or she will bring a stack of checks to the executive in charge of endorsement for approval at times when that executive is busy. That way the endorser is less likely to even take the time to read who the check is made out to. While the book keepers in the office work away, the floor employees could be tempted to loot some of the many items from their surrounding atmosphere.