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review the system of internal control
in order to 
determine the extent of the
substantive work
required on the year-end accounts. The external 
auditors report
to the 
shareholders
rather than the managers or directors. It is usual, however, for the external auditors to issue a letter of 
weakness to the managers, laying out any areas of weakness and recommendations for improvement in 
the system of internal control. The external auditors report on the 
truth and fairness
of the financial 
statements, not directly on the system of internal control. The auditors do not have a specific duty to 
detect fraud, although they should plan the audit procedures so as to have reasonable assurance that 
they will detect any material misstatement in the accounts on which they give an opinion. 
 
 
5
IT systems security and safety 
Security 
is the protection of data from accidental or deliberate threats and the protection of an 
information system from such threats. 
5.1 The responsibilities of ownership 
If you own 
something that you value 
– you 
look after it
. 
Information 
is valuable and it deserves similar 
care. 
Security
, in information management terms, means the 
protection of data 
from accidental or deliberate 
threats which might cause unauthorised modification, disclosure or destruction of data, and the 
protection of the information system 
from the degradation or non-availability of services. 
Security refers to 
technical 
issues related to the computer system, psychological and 
behavioural 
factors 
in the organisation and its employees, and protection against the unpredictable occurrences of the