Reviewers and incorrect article references - Do they adjust them? Let's say that an academic paper has been submitted and that it contains some references which are not cited correctly by the authors, e.g. volume, pages, issue are wrong.

Do the peer reviewers adjust them or they get back to the authors saying that they are wrong and need to be checked?

Thanks
Peer reviewers never make changes to the paper they review. It is not their task to do so, and they do not have the means anyway.

If they do notice mistakes, they will ask the author(s) to fix them. For mistakes such as minor errors in references, I consider it unlikely that the reviewers will notice them at all. If I want to check out a reference, I will either go by doi or the provided link, or simply google author + title -- thus, I wouldn't notice a wrong volume number.

In some journals, the editing staff might check and adjust references. They would then just make a note of that in the page proofs, such that the author(s) can check that the changes are indeed correct.