I've been the person ultimately approving all expenses at a number of organisations and I have never allowed company credit card transactions to be treated any different than any other expense. Full receipts and signed off by the claimant before I reviewed them
However, some public bodies have a bit of a rep for being weak on financial controls and probity (mine were all private companies). Here is my guess..BoD staffed by the great and good, none of whom had real experience of controlling a business. Verity, charasmatic CEO, rides coach and horses through the controls and nobody on the Board said anything as he was delivering the goods. Weak Board, autocratic CEO...recipe for disaster