Accounting Review Services

Q: What is an accounting review?

A periodic examination of financial records by a qualified professional to assess accuracy, completeness, and compliance — less comprehensive than a statutory audit.

Q: How is an accounting review different from a statutory audit?

An audit is legally required and results in a formal opinion. A review is flexible, not mandated for all businesses, and focused on identifying errors and process gaps.

Q: How often should an accounting review be conducted?

Quarterly or semi-annual for most businesses; monthly for high-volume or rapidly growing operations.

Q: What outputs does an accounting review produce?

A review report with findings, errors identified, correction recommendations, and process improvement suggestions.

Q: Can an accounting review help prepare for a statutory audit?

Yes — a pre-audit review identifies and resolves issues in advance, reducing audit queries and the risk of a qualified opinion.

Independent Review of Your Books and Accounting Records for Accuracy, Completeness, and Compliance

An Accounting Review is a periodic examination of a company's books of accounts, ledgers, and financial records by a qualified professional to assess accuracy, completeness, and alignment with applicable accounting standards and statutory requirements. Unlike a formal audit, an accounting review provides a lighter-touch but targeted assessment that helps businesses identify errors, gaps, and areas for improvement before they escalate into compliance issues or financial discrepancies.

Our accounting review services complement our bookkeeping services, financial reporting and MIS, and business tax filing. Businesses with offshore operations benefit from combining this with our offshore accounting services.

Our Accounting Review Services

Ledger & Journal Review

Reviewing general ledger entries, journal postings, and trial balance for accuracy and completeness.

Bank Reconciliation Review

Examining bank reconciliation statements and identifying unreconciled items or long-outstanding entries.

GST Reconciliation

Reconciling books with GSTR returns to identify discrepancies in output tax, input tax credit, and turnover reporting.

Expense Classification Review

Reviewing whether expenses are correctly classified as capital or revenue, and between allowable and non-allowable categories.

Accounts Payable & Receivable Ageing

Reviewing debtor and creditor ageing to identify overdue balances, provisioning requirements, and write-off candidates.

Compliance Checklist Review

Checking for TDS deduction, advance tax payment, and other statutory compliance items reflected in the books.

Our Approach

Understanding the scope and frequency of the accounting review required
Accessing the client's accounting records, ledgers, and bank statements
Reviewing selected accounts and transactions against source documents
Identifying errors, misclassifications, and missing entries
Preparing a review report with findings and recommended corrections
Supporting the client in implementing corrections and improving accounting processes

Benefits of Accounting Review Services

Identifies accounting errors before they affect tax filings or financial statements
Provides an independent view of the quality and accuracy of the books
Reduces the risk of adverse findings during statutory audit or tax scrutiny
Improves confidence in the financial information used for business decisions
Highlights process improvements to prevent recurring errors

Why Choose Us?

Experienced professionals with deep knowledge of Indian accounting standards and tax requirements
Objective, independent review that goes beyond routine bookkeeping checks
Clear review reports with actionable findings and recommendations
Flexible scope — quarterly, half-yearly, or annual reviews available
Seamless integration with our bookkeeping, tax, and MIS reporting services

Frequently Asked Questions

What is an accounting review?

An accounting review is a periodic examination of a company's financial records by a qualified professional to assess accuracy, completeness, and compliance. It is less comprehensive than a statutory audit but more structured than routine bookkeeping.

How is an accounting review different from a statutory audit?

A statutory audit is a formal, legally required examination of financial statements resulting in an auditor's opinion. An accounting review is more flexible in scope, not legally mandated for all businesses, and focuses on identifying errors and process gaps rather than issuing an audit opinion.

How often should an accounting review be conducted?

For most businesses, a quarterly or semi-annual review is sufficient to catch errors before year-end. High-volume or rapidly growing businesses may benefit from monthly reviews to maintain tighter control over financial records.

What outputs does an accounting review produce?

An accounting review typically produces a review report summarising findings, errors identified, recommendations for correction, and suggested process improvements to prevent recurrence.

Can an accounting review help prepare for a statutory audit?

Yes, a pre-audit accounting review is one of the most effective ways to prepare for a statutory audit. It identifies and resolves issues in advance, reducing audit queries and the risk of a qualified or adverse audit opinion.

Explore Our Related Services

Bookkeeping Overview | Financial Reporting & MIS | Offshore Accounting | Accountant Services | Business Tax Filing

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