[veemjeem]

The finance report wouldn't show individual transactions. So if you used the credit card to buy yourself $50 worth of groceries, it's likely to fly under the radar. Hacker Dojo does have the general breakdown of their finances publicly -- it's shown every month during their member meetings. However, one could easily hide the $50 in a general group like "janitorial supplies".

When someone embezzles $30k, they don't do it in one transaction. That would be far too obvious. If you space it out over a year, one could make it fairly invisible.

[nongaap]

The finance report wouldn't have shown individual transactions but the financial controls required to properly put together those annual filings would have caught unusual activity (at the very least dis-incentivized prolonged mismanagement). Also keep in mind proper controls would include having accountants put together the reports and run internal audits.

The other issue is these charges (apparently) weren't invisible/low key transactions. If someone can literally thumb through recent statements and immediately identify suspicious activity like Gym memberships and Vegas trips then that's an obvious problem.

It's one thing if $30k was missing and the company was generating $30 million in cash flow but Hacker Dojo only has $300k in the bank and I have a hard time believing embezzling $30k could be as easily hidden in small transactions if proper controls were in place.