Speaker Dale Graham said the review will be conducted by Peter Wolters, the director of finance and human resources in the clerk's office, who will report back to the committee before it meets again next Tuesday to discuss the Tory member's expenses.
Graham said the review's findings will be made public.
The Progressive Conservative government has ignored repeated Opposition requests to reveal how Davis spent his constituency account funds after he fell behind paying office rent despite claiming his maximum constituency allowance allotment.
The Tory party said last week that it had to cover $5,125 in rent for 2011-12 for Davis's office in his riding of Campbellton-Restigouche Centre.
A spokesman for the government said Davis later fell behind paying his rent again but did not say how much Davis owes.
J.P. Soucy, the executive director for the Tory party, said while an arrangement was made for Davis to repay the party for the 2011-12 rent arrears, it was not asked to cover his rent for 2012-13. Soucy said Davis is still reimbursing the party.
An arrangement was made with the clerk's office to cover the most recent rent arrears, but details have not been released.
Annual reports from the provincial comptroller's office say that Davis claimed his maximum allotment of $40,000 for constituency expenses in the fiscal years of 2011-12 and 2012-13.
Liberal member Victor Boudreau, who sits on the legislative administration committee, said he supports the review but declined further comment.
Attorney General Hugh Flemming said the government also has questions about Davis's constituency expenses.
"I don't know what the report is going to say, but I am committed that it be tabled in the legislature and that it be placed in the public domain," Flemming said.
Davis, who has not been in the legislature since it resumed in February, issued a statement last week saying he wouldn't run again in September's provincial election, citing unspecified health reasons. He has not been available for comment.