International Journal For Multidisciplinary Research

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From Ledger to Ledgerless: Evaluating Blockchain-Driven Real-Time Financial Reconciliation in U.S. Public Companies

Author(s) Mr. Md. Tauhid Hossain Rubel, Mr. A K M Emran, Mr. Md. Kamrul Islam, Mr. Md. Ashraful Islam Nayem, Mr. Syed Kamrul Hasan
Country United States
Abstract This paper offers a thorough assessment of how blockchain technology is changing the real-time financial reconciliation environment in US publicly traded corporations. Blockchain is a promising solution that offers openness, efficiency, and automated control as businesses struggle with the growing complexity of financial monitoring, particularly in the wake of the Sarbanes-Oxley Act (SOX). In particular, the paper discusses how to comply with SOX Section 404, which requires strong internal control over financial reporting (ICFR), a requirement that has historically relied on post-hoc data validation and manual audits. Blockchain technology has made it possible to replace traditional reconciliation models with real-time, tamper-proof ledgers, allowing for ongoing financial transaction verification across numerous company divisions and outside partners. Examining actual deployments in three significant U.S. companies IBM, Walmart Canada, and JPMorgan Chase that have all embraced blockchain technologies to update their reconciliation procedures, the paper investigates this revolutionary change. These examples show how smart contracts and decentralized ledgers drastically cut down on transaction latency, reduce human error, get rid of pointless manual entries, and produce an open audit trail that both internal and external stakeholders may view. Additionally, this study looks at how blockchain can be operationally and technically integrated into older ERP systems, specifically SAP and Oracle. Because of their centralized architecture, these systems have long been essential to corporate financial operations face significant integration issues. The efficiency of middleware, blockchain modules certified by SAP, and blockchain integration frameworks in accomplishing smooth reconciliation are examined. It is critically evaluated how smart contracts can automate the compilation of journal entries, the validation of invoices, and the matching of goods receipts. The study also looks at the wider regulatory ramifications of blockchain-led reconciliation, specifically how well it complies with the guidelines established by the Financial Accounting Standards Board (FASB), the Public Company Accounting Oversight Board (PCAOB), and the U.S. Securities and Exchange Commission (SEC). Blockchain can change compliance from a reactive to a proactive process by producing immutable, real-time data, giving regulators more insight and confidence in financial reporting. In the end, this study shows how blockchain technology can be used for financial reconciliation, but it also has the ability to change audit procedures, simplify compliance, and rethink financial governance in post-SOX corporate America.
Keywords Blockchain, Financial Reconciliation, SOX Compliance, ERP Integration, Audit Automation, SAP, Smart Contracts, JPMorgan, Walmart, IBM.
Field Computer > Data / Information
Published In Volume 7, Issue 4, July-August 2025
Published On 2025-07-05
DOI https://doi.org/10.36948/ijfmr.2025.v07i04.49709
Short DOI https://doi.org/g9s9cx
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