The world's four biggest auditing firms will join 20 banks to trial a blockchain service for validating public companies' financial reports.
"Big four" professional services firm EY says that blockchain could transform its finance operations and redefine the role of chief financial officer.
Rather than waiting for periodic reports, auditors of private equity funds on Northern Trust's blockchain will get the data almost immediately.
The statement, provided Saturday evening, confirms the suspicions of online sleuths and is likely to raise new questions about the company's finances.
Blockchain startup Auditchain has added the co-founder of a widely used business reporting standard to its leadership team.
Technologies like blockchain are changing the face of auditing, according to a senior official of an oversight board created by the US Congress.