EY Blockchain Analyzer: Reconciler
Sector: Tertiary sector · Industry: Auditing and tax consulting · Organisation: Ernst & Young (EY) · Maturity level: Production
The EY Blockchain Analyzer: Reconciler is a web-based analysis tool that retrieves on-chain data from public blockchains and reconciles it with off-chain enterprise data. The tool supports auditors in validating digital assets such as Bitcoin, Ethereum, and ERC-20 tokens by combining transaction data, wallet balances, and digital signatures. Since May 2022, the software has been globally available and is already being used in 30 EY audit engagements as well as in professional services for external clients like Blockchain.com.
Documentation status
- Project status: Production
- Evidence: Evidence high
- Editorial review: Ufuk Avci, 15 April 2026
Description
EY (Ernst & Young) has developed a specialised auditing tool for blockchain-based transactions called Blockchain Analyzer: Reconciler. General Availability was announced in May 2022; the December 2024 Solution Brief presents the latest generation.
The problem for audits: When a company conducts transactions on the blockchain (crypto payments, DeFi operations, tokenised assets), auditors must reconcile these with internal accounting systems. Previously: manual, error-prone Excel comparisons. EY Blockchain Analyzer: Reconciler solves this: The tool connects to various blockchains (Ethereum, Bitcoin, others), downloads transaction data and automatically reconciles it with the ERP system; discrepancies are reported immediately; reports are generated audit-ready. Use cases: (1) Crypto treasury audit for companies holding Bitcoin or Ether. (2) DeFi protocol audit: all interactions with DeFi protocols are recorded. (3) Tokenised assets audit: blockchain-secured securities are correctly accounted for. ERP Today reported on the release of the new tool generation. The December 2024 Solution Brief shows EY is actively developing the tool further.
Perspectives
B2B — organisations perspective
Auditors can automatically reconcile blockchain-native transactions with ERP systems using EY Blockchain Analyzer: Reconciler — audit-ready reports, SEC-compliant, eliminating manual Excel checks.
Employees perspective
Audit staff can perform complex blockchain analyses without deep technical blockchain knowledge, as the software offers a user-friendly web interface. Automating repetitive tasks allows auditors to focus on higher-value analytical activities and client advisory.
Benefits
General
- Automated data collection and validation significantly reduce manual effort in blockchain analyses and minimise human errors.
- By using EY’s own nodes, dependence on external block explorers is eliminated and data security is enhanced.
- The modular architecture enables rapid adaptation to new blockchain networks and changing compliance requirements.
B2B — organisations
- Companies receive more precise and faster audit results for their digital assets, increasing compliance security and reducing regulatory risks.
Employees
- Auditors can expand their expertise into the growing digital assets field without needing extensive technical blockchain training.
Challenges
General
- Data inconsistencies in wallet derivation and balance lookups can occur and require manual follow-up.
- Dependence on the availability and integrity of public blockchain data can lead to delays during network issues.
B2B — organisations
- Companies must adapt their internal systems and processes to the new audit requirements for digital assets.
Employees
- Audit teams need basic training in handling blockchain technology and digital assets to use the software effectively.
Technology foundation
The solution uses public blockchains such as Bitcoin, Ethereum, Litecoin and other cryptocurrency networks, as these provide transparent and immutable transaction data. EY operates its own blockchain nodes to access ledger data directly, independent of external block explorers, thereby ensuring higher data security and reliability.
Implementation examples
EY Global Audit Implementation
EY wanted to develop a scalable solution for the growing demand for audits of companies with digital assets. The increasing adoption of cryptocurrencies in the corporate sector required specialised tools for efficient validation of blockchain transactions.
EY has implemented the Blockchain Analyzer: Reconciler globally in 30 audit engagements and uses it for professional services with external clients.
Ernst & Young rolled out the third generation of the Blockchain Analyzer: Reconciler as a SaaS platform in May 2022, making it globally available via blockchain.ey.com. The tool is actively used in 30 EY audit engagements and supports professional services for external clients such as Blockchain.com. The fourth generation has already been released, offering extended features including Dogecoin support.
The tool solves the challenge of manual blockchain data analysis and enables validation of digital assets without reliance on external block explorers. By using EY's own nodes, data security and reliability are increased.
Tags
Blockchain analysis, Audit automation, Digital assets, Compliance, Data reconciliation