There are always crooks and folks trying to manipulate company assets for their own benefits. Hopefully a good company or a "large company" has checks and balances in place to prevent such actions. A large company, traded on a major stock exchange and regulated by the SEC, should have sufficient internal checks and balances to prevent such corrupt practices. An additional level of protection should be the independent auditor.
It is hard for me to believe that there was such obvious cooking the books going on (or wishfull financial accounting of earnings and expenses) at En-Wrong, Global Crossing, WorldCom, Qwest, Sunbeam, etc. With such creative accounting, lack of internal checks and balances, lack of Board of Director oversight, lack of SEC oversight, lack of FERC or FCC oversight, lack of state regulatory agency oversight, lack of institutional investment analyst problem identification, or lack of credit rating agency blowing the whistle earlier.
There were so many companies and so many who were asleep at the switch is what if find disturbing. Yes, the Clinton legacy was all about "not getting caught and when caught stonewalling the truth."