A purchasing agent for a large hardware retailer has sole discretion in selecting vendors for the…

A purchasing agent for a large hardware retailer has sole discretion in selecting vendors for the parts and supplies sold by the company. The agent directs a disproportionate number of purchase orders to a supply company owned by the agent’s brother in law, which charges above-market prices for its products. The agent’s relationship with the supplier is unknown to his employer. Required What type of fraud is this, and what controls can be implemented to prevent or detect the fraud?

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