An accountant embezzled 4 Million SGD from a company in Singapore and remitted it home to the Philippines.
It emphasises the importance for company directors and management to have an understanding and keep an eye on financials, and to also enact certain safeguards.
A good safeguard includes pair-work – having two pairs of eyes on the finances, either by having a separate, independent manager who has some financial background to look over the reports, or having a pair team to work on the accounts and transactions.
www.todayonline.com/singapore/accountant-embezzled-nearly-s4-million-company-remitting-most-home-philippines

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