Thomson Reuters Launches AI for Tax and Audit That Knows the Answer, and Why It's Right

The next generation of CoCounsel Tax, Audit & Accounting plans the work, applies the correct authority, and delivers a finished result professionals can review and trust.

TORONTO, Oct. 22, 2026 /PRNewswire/ -- Thomson Reuters (TSX/Nasdaq: TRI), a global content and technology company, today launched the next generation of CoCounsel Tax, Audit & Accounting, a fully agentic AI platform built for tax, audit and accounting professionals who have been waiting for AI that completes the work and delivers results they can trust. The platform moves from source documents and client data to finished, defensible work product within a single workflow, with professional judgment guiding every step.

While many AI tools can now write and run code, precision alone doesn't make professional work correct. Tax and audit work is full of judgment calls: which rule applies, how a client's specific facts should be interpreted, what authority governs a given period. The next generation of CoCounsel Tax, Audit & Accounting is built to get that judgment right, grounding every calculation in the correct authority and carrying that reasoning through to a finished result, with enough visibility into how it got there that a professional can validate the work with confidence.

For tax, audit and accounting professionals, that means faster execution without sacrificing the quality of the result. By reducing manual effort and standardizing how work gets done, CoCounsel frees tax, audit and accounting teams to increase capacity, take on more complex, higher-value work, and focus on the strategic work that used to get crowded out by manual execution.

CoCounsel Tax, Audit & Accounting is built on the CoCounsel platform, alongside leading tax applications from Thomson Reuters, including Ready to Review and Ready to Advise. New capabilities and features will be added over time, connecting directly with the tools tax, audit and accounting teams already use so each addition arrives inside existing workflows. It's built on a multi-model strategy, so customers are always working with the optimal model for the task, no matter how the technology changes. As it evolves, it will remain grounded in authoritative sources, including the Thomson Reuters accounting research engine, Checkpoint, which holds more than 12 million primary source and proprietary analytical documents that are expertly maintained and kept current by hundreds of experts, including CPAs and tax attorneys. It will also always meet the Thomson Reuters Fiduciary-Grade AI™ standard, giving tax, audit and accounting professionals the transparency and confidence the work demands.

"The next generation of CoCounsel Tax, Audit & Accounting changes what professionals should expect from AI. It doesn't just answer a question; it plans the work, runs the calculation, applies the right authority, and delivers a finished result a professional can review and sign their name to," said David Wong, Chief Product Officer, Thomson Reuters. "Building that took decades of authoritative content, credentialed expertise, and real-world integrations, the kind of foundation that turns AI that answers questions into AI that does the work."

Key Capabilities

The next generation of CoCounsel Tax, Audit & Accounting platform capabilities include:

• Code Execution and Verified Calculations: CoCounsel writes and runs code to perform calculations including depreciation, amortization, required minimum distributions, qualified business income, threshold checks and multi-scenario comparisons. Customers can replace estimates and eliminate guesswork with computations that are more precise and reproducible.
• Client and Firm Context: No more time spent retracing work that has already been completed. A single destination brings together client information, engagement activity and workflow context so every member of the team has the full picture of a client relationship.
• Spreadsheets and Deliverables: CoCounsel turns analysis into finished work product. It builds multi-tab Excel workbooks with live formulas and a documented assumptions tab, drafts memos and other deliverables in Word and PDF, and updates the spreadsheets and documents professionals upload, following the structure of a firm's own workpaper templates.
• MCP Support: CoCounsel Tax, Audit & Accounting is built to natively support MCP connectivity. This makes it possible for CoCounsel to operate within a range of other applications and systems, and to incorporate other systems into its own context.
• Connected Systems: Expanded integrations help firms connect CoCounsel with the tools and platforms they rely on to run their practice. Integrations with UltraTax, Engagement Manager, Guided Assurance and more to come help reduce context switching and streamline work within a unified experience.

"We didn't just build a tool that does math. We built one that knows why the math is right," said Joel Hron, Chief Technology Officer, Thomson Reuters. "The code execution piece is table stakes now; every company in this space has it. What's hard is making sure the system is reasoning from the right facts and the right authority before it ever runs a calculation. We built that judgment in, grounded in content that's kept current and tested by the people who actually do this work, so a professional can check it themselves rather than take our word for it."

Availability

The new CoCounsel Tax, Audit & Accounting platform is available now for all customers in the United States, with additional features and capabilities to come.

Visit our website for more information.

About Thomson Reuters

Thomson Reuters (TSX/Nasdaq: TRI) informs the way forward by bringing together the trusted content and technology that people and organizations need to make the right decisions. The company serves professionals across legal, tax, audit, accounting, compliance, government, and media. Its products combine highly specialized software and insights to empower professionals with the data, intelligence, and solutions needed to make informed decisions, and to help institutions in their pursuit of justice, truth and transparency. Reuters, part of Thomson Reuters, is the world's leading provider of trusted journalism and news. For more information, visit thomsonreuters.com.

Media Contact

David Greenberg

Senior Manager, AI and Innovation Communications

David.Greenberg@TR.com

SOURCE Thomson Reuters