"the secretary kept the cash and school funds paid out the coach firm."
Note that's £35K over 7 years
What you have here is the classic "single person of trust" in a small firm story.
"We've never had a problem, we trust him/her implicitly."
Proper accounting systems don't need trust.
They need separation of authority from request generation and regular oversight. Good systems cannot be gamed without significant collusion, not just one person inside the company.