Miguel, a friend of yours, recently started his own business, Uptown Bikes, which specializes in selling electric and scooters. Miguel is putting the finishing touches on his company policies and procedures. He knows you are taking a fraud class and asks you to review what he has completed thus far. You quickly notice that Miguel has neglected to address fraud and fraud prevention in his policies and procedures.

What policies and procedures would you suggest Miguel implement to prevent and detect fraud at Uptown Bikes? List and describe five (min 75 words per description).

As part of your review, you asked Miguel to see a list of Uptown Bikes vendor payments. Miguel isnt a numbers person, so he has his brother-in-law, Clark, managing his books. Clark reluctantly gave you the recent vendor payment list below. Compare the first-digit frequency in the transactions in this table below with Benford's Law.

Amount	Description	Check Number
$ 235.65	Payment to Vendor ABC	5001
$ 654.36	Plumbing Repair	5002
$4,987.36	Payment to IRS	5003
$339.13	Purchase supplies	5004
$475.98	Tech consulting	5005
$254.14	Payment to Vendor DEF	5006
$504.17	State tax payment	5007
$171.54	Purchase supplies	5008
$326.45	Monthly loan payment	5009
$477.67	Electric bill	5010

What are the results (display using a chart or graph)

Could fraud be occurring in this organization? Discuss your findings and describe the additional testing that could be done to confirm if fraud is occurring.