A formal assessment is a comprehensive evaluation of an individual or organization. It typically involves gathering data, analyzing the information, and providing a REPORT or REVIEW of the findings. A formal assessment can be used to assess performance, identify areas for improvement, and provide feedback. The crossword solutions for the term 'formal assessment' are 'REPORT' and 'REVIEW'. A REPORT is a written document that summarizes the findings of the assessment, while a REVIEW is an in-depth analysis of the data collected.