Accounting Review Services are independent, periodic examinations of a company's accounting records to confirm that transactions have been correctly recorded, reconciled, classified, and disclosed — well before the statutory or tax auditor is brought in. A review sits between bookkeeping and audit: it does not give an audit opinion, but it identifies misclassifications, reconciliation gaps, accounting-standard breaches, and tax-impact errors so that they can be corrected at source.
Reviews are usually structured as monthly closure reviews, quarterly limited reviews, half-yearly accounting health-checks, or pre-audit cleanups — referencing Section 128 / 129 / Schedule III of the Companies Act 2013, applicable Ind-AS / AS, ICDS, Income-Tax Act, and the CGST Act. Our accounting review services cover ledger scrutiny, bank / GST / TDS / 26AS / inter-company reconciliations, fixed-asset and inventory verification, MIS validation, schedule-III mapping, accounting-policy alignment, and audit-readiness — for proprietorships, LLPs, private companies, and listed groups.
Independent month-end review of voucher posting, BRS, ledger movement, GST / TDS tagging, payroll JV, and depreciation — sign-off before MIS goes to management.
Bank, vendor, customer, GSTR-2B, GSTR-1, 26AS, AIS / TIS, TDS, inter-company, and stock reconciliations — gap analysis with root-cause and corrective JVs.
Account-by-account scrutiny — abnormal entries, classification errors, misposting, suspense / temp accounts, contra entries, dormant ledgers, and self-balancing checks.
Quarter-end limited review aligned with SEBI LODR / management cadence — analytical review, materiality testing, and KPI validation; not a full audit but high-confidence sign-off.
Comprehensive pre-statutory-audit review — schedule-III mapping, audit-schedule preparation, accounting-policy note, depreciation working, deferred-tax workings, and Q&A pack for auditor.
Review against applicable Ind-AS / AS — revenue (Ind-AS 115 / AS 9), leases (Ind-AS 116 / AS 19), financial instruments (Ind-AS 109 / AS 30), and impairment / fair-value adjustments.
Books vs GST returns, books vs TDS / 26AS / AIS, books vs ITR, ICDS adjustments, MAT working, and Form 3CD-ready data — minimising audit-trail and tax-notice risk.
Investor / lender / acquirer-grade financial review — quality-of-earnings (QoE), normalised EBITDA, working-capital scrub, debt-like items, cap-table reconciliation, and red-flag report.
Books must be kept on accrual basis, double-entry system, and give a true and fair view — review confirms accuracy, completeness, classification, and reconciliation.
Financial statements must comply with Schedule III and applicable Ind-AS / AS — review confirms presentation, recognition, measurement, and disclosure compliance.
A review provides limited assurance through inquiry and analytical procedures — narrower than a full statutory audit, but a powerful pre-audit and management-control tool.
Reconciliations between books and bank statements, GSTN, 26AS / AIS, depository, and inter-company are the heart of the review — every gap is a potential misstatement or tax notice.
Cut-off testing ensures that revenues, expenses, and accruals are recorded in the correct period — critical for monthly MIS, quarterly review, and year-end closure quality.
Expense disallowance if MSME suppliers are not paid within 15 / 45 days — review identifies overdue MSME creditors and quantifies disallowance for tax computation.
From FY 2023-24, every company must use accounting software with audit trail (edit log) — review confirms feature is enabled, retained, and disclosed in audit report.
Reviews use materiality-based sampling and analytical procedures — focused on high-value, high-risk, and unusual ledger movements rather than 100% checking.
Month-end voucher sampling, BRS sign-off, GST / TDS tag verification, payroll JV check, depreciation run, and management MIS sign-off — within 5 days of month-end.
Quarter-end review on SRE 2410 lines — analytical procedures, materiality testing, KPI validation, and SEBI LODR-aligned management certification.
Comprehensive bank, GSTR-2B, 26AS / AIS, vendor / customer, inter-company, and stock reconciliations — open-item ageing and corrective-action plan.
Account-wise scrutiny — suspense, contra, dormant, misclassified, and unusual ledgers; corrective JVs; trial-balance health and cleaner chart of accounts.
Schedule-III mapping, audit-schedules, accounting-policy note, deferred-tax working, provisions / contingencies, and complete auditor Q&A pack.
Compliance check against Ind-AS 115 / 116 / 109 (or AS 9 / 19 / 30), revenue cut-off, lease ROU, financial-instrument classification, impairment, and disclosures.
Books vs GST / TDS / 26AS / AIS / ITR sync, ICDS adjustments, MAT / AMT working, 3CD-ready data, and proactive tax-notice prevention.
Identification of MSME creditors, ageing of dues, 15 / 45-day cut-off mapping, expense-disallowance quantification, and remedial action plan.
Asset register vs ledger reconciliation, capitalisation review, depreciation Sch II / Sec 32, physical-verification gap, stock valuation method, and obsolete inventory.
Verification of audit-trail (edit-log) configuration, retention, integrity, and disclosure note for the auditor — FY 2023-24 onwards mandatory compliance.
Investor / lender / acquirer-grade quality-of-earnings, normalised EBITDA, working-capital scrub, debt-like items, cap-table recon, and red-flag report.
Comprehensive year-end accounting review, schedule-III financials, audit handover pack, deferred-tax, and management representation letter (MRL) draft.
Statutory audit due — pre-audit cleanup, schedule-III mapping, audit schedules, deferred tax, and full auditor Q&A pack.
Tax-audit threshold crossed — books-to-tax reconciliation, ICDS adjustments, MAT / AMT, and 3CD readiness.
VC / PE / lender diligence — QoE, working-capital scrub, debt-like items, cap-table recon, and red-flag remediation.
New CFO / FC / promoter takeover — opening-balance certification, reconciliation refresh, and clean baseline.
GSTR-2B mismatch / 26AS mismatch / 143(1) intimation — books-to-return reconciliation and reply-data preparation.
Migrating from Tally to Zoho / SAP / Oracle — opening-balance verification, master cleanup, and parallel-run accuracy review.
Group / multi-entity / multi-state consolidation — inter-company elimination, accounting-policy alignment, and group MIS sign-off.
Whistle-blower / leakage / unexplained variance — focused review of suspense ledgers, vendor master, and cash entries with red-flag report.
Define scope (monthly / quarterly / pre-audit / diligence), materiality, focus areas, and a risk-based sampling plan.
Tally / ERP backup, ledger dump, bank / GSTN / 26AS pulls, ageing reports, and master-data extraction.
Voucher sampling, ledger scrutiny, reconciliation testing, accounting-standard check, and cut-off / classification testing.
Observation log, corrective JVs, schedule-III mapping, accounting-policy alignment, and re-validation of corrected books.
Review report, audit-handover pack, MIS / KPI sign-off, and continuity retainer for next cycle.
Partner with our accounting-review specialists for monthly / quarterly / pre-audit reviews — ledger scrutiny, reconciliations, schedule-III, Ind-AS / AS, and audit-readiness for FY 2026–27.
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