The glossary to understand and take action

Accounting review

Accounting review consists of all checks aimed at examining the consistency and supporting evidence of the prepared accounts.

Notion comptable, fiscale ou juridique · Luxembourg Fiduciaries Editorial Team · Reviewed on

Understand the scope

Definition and points to distinguish

It may form part of an accounting engagement without constituting a statutory audit. Ask which checks were carried out and what assurance, if any, accompanies the document provided.

In your file

What this changes in practice

The review aims to examine the consistency and supporting evidence of the accounts before their use or closing. It may cover bank accounts, receivables, debts, fixed assets or the allocation of transactions to the financial year. Its content depends on the engagement: it does not automatically constitute an audit accompanied by an independent opinion. Identified anomalies must be followed up until they are corrected or a documented decision is made.

A scenario to help you understand

Educational example

The trial balance is balanced, but a supplier has an unusual balance. The review reconciles invoices, credit notes and payments to determine whether an entry is missing or an advance payment has been misclassified.

Fictitious situation, presented to illustrate the concept.

Prepare for what comes next

Points to check

  • Identifier les comptes à justifier
  • Documenter les contrôles et anomalies
  • Valider les écritures de régularisation

The practical question

Find out more

Une révision comptable équivaut-elle à un audit légal ?

Non. La nature des contrôles et le niveau d’assurance dépendent de la mission confiée. Une révision peut servir à fiabiliser les comptes sans constituer une certification. Demandez quels travaux seront effectués, sur quelles données et avec quel livrable. Lorsque la société est soumise à un contrôle légal, le statut et la mission de l’intervenant doivent être adaptés.

Connecting concepts

Terms to know as well

Continue with the concepts, contacts and procedures related to this topic.

Trial balanceThe trial balance summarises accounts, their movements and their balances over a defined period.Accounting closeThe accounting close encompasses the work that finalises the accounts for a financial year and makes it possible to prepare the financial statements.Audit trailA set of links and records making it possible to understand a transaction from its source document through to its recording and controls.Chartered accountantThe chartered accountant practises a regulated profession, with assignments relating in particular to accounting and advisory services within the authorised framework.Institut des réviseurs d’entreprises (IRE)The Institut des réviseurs d’entreprises (IRE) is the professional body for statutory auditors in Luxembourg.OECThe Ordre des experts-comptables (OEC) is Luxembourg's professional body for the chartered accountancy profession.

Put it into practice

Explore further with our guides

Practical guideChartered accountant in Luxembourg: roles and status verification

Sources and verification

References consulted on 20 September 2026. Official procedures specify the applicable conditions and exceptions.

This guide explains a general process. The applicable rules depend on your situation; it does not constitute personalised advice. Report a correction.

A definition gives you a reference point. To examine your situation, clarify your question with a professional.