There’s a huge difference and it’s very important.
Apple would find it very hard to do this.
I could break Apple’s encryption if I had the key. I tried today, and couldn’t make the phone give up the key.
Other people know the keys. For example, I’m the only person within my company with the key to HIPAA. And that’s fine. That’s how it should be.
Those phones are locked down hard. Very hard.
I hope you have a means of passing that key on to some other official in your company if something were to happen to you. You could be hit by a truck on the way to work, God forbid. I have the passwords only I know in a sealed envelope in the company safe deposit box, just in case.