Question: Review versus audit. What is the difference between reviewing financial information and auditing financial information? Is the difference important? What information is likely to be

Review versus audit. What is the difference between reviewing financial information and auditing financial information? Is the difference important? What information is likely to be reviewed? What information will be audited? Are outsiders likely to understand the difference? What are the implications if outsiders do not understand the difference between information that is reviewed and information that is audited?

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