What factors contributed to embezzlement of more than p5m

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Edilberto Cruz is a highly competent accounting executive of Paloma Morning Breeze Corporation who had been responsible for accounting-related matters for more than two decades. His devotion to the firm and his duties has always been exceptional, and over the years, he had been given increased responsibility. For his entire career, he rarely gets sick or rarely absents himself from work.

Both the President of Paloma Morning Breeze Corporation and a partner of one of an independent CPA firm in charge of audit were speechless to uncover an embezzlement case of more than P5,000,000 by Edilberto Cruz over a 10-year period by not recording billings in the sales journal and subsequently diverting cash receipts to his own bank account.

What factors contributed to the embezzlement of more than P5M?

Reference no: EM132922628

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