A review provides limited assurance rather than a reasonable amount of assurance, so in simple terms, a review reports on the plausibility of the financial statements whereas an audit provides a reasonable level of assurance in the form of a positive statement such as ‘presents fairly’ or ‘presents a true and fair view’

Limited Review can be defined as the audit of financial statements on quarterly/Half yearly basis.

Listed companies are required to conduct limited review through their statutory auditors.

Every listed co. under clause 41 of the listing agreement is required to furnish the unaudited quarterly/half yearly result in the prescribed format to the concerned stock exchange within 45 days of the end of respective quarter.