Definitions (2)

1.General: Orderly recall of past information in summary form for its reexamination.
2.Accounting: Financial data analysis that provides less assurance than a full audit, but more than a compilation (which provides no assurance). In a review, an auditor expresses limited assurance that the firm's financial statements do not require any material modification for them to be in conformity with the provisions GAAP.

Use review in a sentence

  • If you are called in front of the review board just give them honest and confident answers about why you chose the route that you did.

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  • Taking a good review of your past year can help you forecast what changes to make for the coming years problems.

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  • A review of the company's finances was in order, because there were suspicions that the accounting department was cooking the books and hiding expenses.

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