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What is an audit (in the context of financial accounting)? Can an audit ensure that fraud and theft are not present in the accounting system?

  1. What is an audit (in the context of financial accounting)? Can an audit ensure that fraud and theft are not present in the accounting system? Why or why not?
  2. What are some ways in which accounting for health care organizations (HCOs), especially not-for-profit (NFP) ones, tends to differ from accounting in other industries?

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