What are the consequences of violating a workplace standar? Is incarceration one of the possibilities? Why or why not?

In addition, what does "relinquishing the approbation" mean? I'm not familiar with this term. Can you clarify?

Incarceration is possible of an employee falsifies the records or steals money from the business.

http://dictionary.reference.com/browse/relinquish

http://dictionary.reference.com/browse/approbation