Analytical Review

Business, Legal & Accounting Glossary

Definition: Analytical Review


Quick Summary of Analytical Review


Analytical review is an auditing procedure that uses ratios to determine whether any significant changes have taken place.



What is the dictionary definition of Analytical Review?

Dictionary Definition


An analytical review is an auditing test used to gather evidence of the validity, completeness and accuracy of financial statements and accounting records.


Full Definition of Analytical Review


An analytical review is a kind of substantive test which can be used in the planning of or undertaking of an audit and is used by auditors to assess the reasonableness of account balances.

An Analytical review works by comparing data, figures, financial and non-financial data, either externally or internally to determine whether said data and figures are reasonable.

The procedure used may vary, it could simply be a comparison of data, for example comparing the amount held in a current account with that held in the same current account last year. Or it could be a more sophisticated procedure which uses computer auditing software as well as advanced statistical procedures, for example, using multiple regression analysis.

A CPA does this by comparing changes in account balances over time, as well as by comparing related accounts.


Synonyms For Analytical Review


analytical survey, analytical testing, analytical examination, analytical study, analytical summary

Cite Term


To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/analytical-review/
Modern Language Association (MLA):
Analytical Review. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. December 05, 2020 https://payrollheaven.com/define/analytical-review/.
Chicago Manual of Style (CMS):
Analytical Review. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/analytical-review/ (accessed: December 05, 2020).
American Psychological Association (APA):
Analytical Review. PayrollHeaven.com. Retrieved December 05, 2020, from PayrollHeaven.com website: https://payrollheaven.com/define/analytical-review/

Definition Sources


Definitions for Analytical Review are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 7th January, 2020 | 2,837 Views.