The Finance Director and Controller shall establish a system of internal controls which shall be documented in writing. The City’s external auditors shall review and evaluate, at least annually, the system of internal controls to ensure that they are adequate for the purposes stated in this section. The controls shall be designed to prevent losses of public funds arising from fraud, employee error, misrepresentation by third parties, unanticipated changes in financial markets, or imprudent actions by employees and officers. [Code 1979 § 6.05.10.]