Which term refers to the review process for discrepancies in accounting?

The term that accurately refers to the review process for discrepancies in accounting is often understood to be an audit process. An audit typically involves a systematic examination of books, accounts, and financial statements to ensure accuracy and compliance with established standards. This process is crucial for identifying discrepancies and ensuring that financial records are accurate.

While the term "Dormant Account Review-Quarterly (DAR-Q)" may suggest a review process, it specifically pertains to the assessment of dormant accounts, which are typically accounts that have had no activity for a certain period of time. The focus of the DAR-Q is different, as it primarily aims at managing inactive accounts rather than broadly addressing discrepancies in overall accounting records.

An audit review, by contrast, encompasses a more comprehensive approach to financial assessment, looking into all areas where discrepancies might exist—thus confirming that the correct terminology for addressing discrepancies in accounting is related to the audit process rather than the specific focus of dormant accounts.