The review has looked primarily at a payment of $10m (£6.2m) made in March 2001 by Keith Krach, Ariba's chairman and co-founder, to Larry Mueller, its then president and chief operating officer.
Ariba originally viewed the payment as a personal transaction, since it involved Krach's personal funds, but has concluded that it should be treated as a capital contribution to Ariba.
Ariba said the payment does not affect the results of its operations for 2002. Its restated financial report will disclose an additional $10m in compensation expense for the periods in question.
Ariba also said that it would delay the filing of its annual report for 2002, which was due on 30 December, until the review is complete.
The committee began its review last month and is expected to be completed soon, Ariba said. It focuses on the way the company accounted for benefits provided to "a limited number of employees" during the financial years 2000 and 2001.
Ariba switched its focus in early 2002 from procurement software to spend-management software, which helps companies reduce costs by spending more efficiently. In October it reported a loss of $660.8m (£411m), on revenue of $229.2m.