Analytical Review

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Definition: Analytical Review


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.



Video Guide For Analytical Review




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


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January 29, 2022 https://payrollheaven.com/define/analytical-review/.
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Analytical Review. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
https://payrollheaven.com/define/analytical-review/ (accessed: January 29, 2022).
American Psychological Association (APA):
Analytical Review. PayrollHeaven.com. Retrieved January 29, 2022
, 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: 22nd November, 2021 | 4,343 Views.