In a medium size trading organisation, the accountant was given additional responsibility of making recoveries from receivables. On one occasion, an insurance claim of ₹75,000 was received. He credited the same to the ac

In a medium size trading organisation, the accountant was given additional responsibility of making recoveries from receivables. On one occasion, an insurance claim of ₹75,000 was received. He credited the same to the account of a debtor and misappropriated the cash which he had recovered from the said receivable. Pinpoint the weaknesses in the internal control which led to this situation.