What happens if the review is held after the 60 day period after the End of the Project?

Firstly, you should always try and get reviews scheduled to be held during the lifetime of the project and not after the official end date.

If the review is held within the 60 day period then please refer to answer http://www.finance-helpdesk.org/front/ShowArticle.aspx?ItemID=1299

You should insist that Reviews are NEVER held after the 60 day reporting period as costs will not be allowed.