Your question has been answered in points 1.3 and 1.6. Please see below:
"1.3 Explain the Purpose of Legal and Organizational Requirements for the Security and Confidentiality of Information
Any information stored in an organisation has to follow the security and confidentiality procedures. Information security and confidentiality is the process where data is kept away from unauthorised access, disclosure, destruction, use or modification. It applies to both physical and electronic data. All organisations store a large amount of confidential information about their employees, customers, company’s status, products, surveys, finances, etc. While handling this information, care has to be taken to follow the security and confidentiality procedures, because if information gets into the wrong hands, it could lead to serious, negative consequences. It will also affect the ethics and the running of an organisation and will lead to legal action.
While passing information to other organisations or individuals, the confidentiality and data protection procedures have to be followed. Confidential information like date of birth, credit, and debit card details, religion, ethnicity, financial status, etc., can be passed to only people who have authority or for whom the owner has given consent to, and it also has to follow the confidentiality laws and regulations."
"1.6 Explain the Purpose of Checking Information for Accuracy
All businesses and organisations have to check to see that the information they have stored is accurate. For example, the money coming in and going out have to be correctly recorded, otherwise, it will look as if the company has not made much profit. This can affect the share prices of the company and the employees as the company might not be able to pay the employees and will have to cut down on staff and lenders will not agree to lend money, etc.
Incorrect information can have serious negative effects and can affect a company’s financial status and values. Accuracy of information will help executives plan ahead for the future and lay goals. They will also be able to plan for the shortcomings in advance."