NOTICIAS

When the Sarbanes-Oxley Act was enacted in 2002, the corporate world realized that trust could no longer be taken for granted. The financial fraud cases that shook the United States at the beginning of the century exposed an uncomfortable truth: numbers could be manipulated, and investors no longer trusted financial statements. The law —better known as SOX— was created to ensure that such situations would not happen again. Since then, every publicly traded company, and many others with global operations, have been required to demonstrate that their financial statements are truthful, verifiable, and traceable. And within that process lies a silent yet decisive element: reconciliation.

Reconciliation rarely makes headlines, yet it is one of the most critical controls under SOX guidelines. It confirms that accounting records match external sources —such as bank statements or operational systems— and that every transaction has its corresponding support. In simple terms, reconciliation is the tool through which an organization proves that its numbers are real. Without it, financial statements lose credibility, and internal controls become unreliable. It is, ultimately, the language through which a company speaks to trust.

Reconciliation as Proof of Control

SOX regulations require executives to certify the effectiveness of internal controls over financial information. This is not just about compliance; it is about building a culture where data integrity is unquestionable. A reconciliation performed manually, scattered across spreadsheets, or lacking traceability may seem sufficient in day-to-day operations, but during an audit, it represents a significant risk. On the other hand, when reconciliation is automated and centralized, it becomes concrete evidence of control, transparency, and operational efficiency.

External auditors know this well: reconciliation errors are among the leading causes of critical findings under SOX. Not because the standard is inflexible, but because these are often the points where inconsistencies between systems, dependence on manual tasks, or lack of cross-check controls become evident. That is why more and more global companies are migrating to platforms that integrate information from multiple sources, perform automatic record matching, and provide full traceability of every adjustment or exception.

From Obligation to Opportunity

In that sense, automation is not only a regulatory requirement —it also generates tangible savings. Automated internal control processes can reduce the time spent on reconciliations and reporting by up to 70%, while significantly lowering audit-related costs. However, the greatest benefit is not measured in hours or resources, but in the peace of mind that comes from knowing the numbers are accurate from the very beginning.

Conciliac was created to address exactly that challenge. Its platform enables companies to transform reconciliation into an automated, transparent, and auditable process —one that meets SOX requirements while freeing teams from repetitive tasks. With Conciliac, every reconciliation is automatically documented, every variation is backed up, and every financial close is supported by solid evidence. What once required days of manual review can now be completed in minutes, with reports ready for internal or external auditors and intelligent alerts that detect inconsistencies before they reach the balance sheet.

The difference between compliance and leadership lies in how the standard is interpreted. SOX is not only about avoiding mistakes; it seeks to foster responsibility and transparency. Companies that understand this discover that reconciliation can be more than a requirement —it can be a competitive advantage. Automation not only saves time but also strengthens reputation and allows financial leaders to focus on what truly matters: analyzing, projecting, and making decisions based on reliable data.

In a world where trust is the most valuable asset, a well-executed reconciliation is worth as much as a solid financial result. Complying with SOX is not just an obligation for large corporations; it is a practice that raises management standards for any organization striving to operate with rigor and credibility. In this context, reconciliation ceases to be a silent process and becomes the very core of control and transparency.

At Conciliac, we’re here to help you automate your reconciliation and data management processes.