In your own words, explain Benfords Law (mathematical notation is not required but rather your intuitive understanding of the principles. Benfords Law has been applied to a range of distributions including stock market data, census date and certain types of accounting data. What characteristic must accounting data have to allow Benfords Law to apply. Give three accounting data sets to which Benfords Law would apply. How can Benfords law be used by management and auditors to detect fraud.