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Thomson Reuters Unveils Revolutionary AI Platform for Tax Professionals

On October 22, 2026, Thomson Reuters, a leading global content and technology company, announced the rollout of its next-generation AI platform tailored specifically for tax, audit, and accounting professionals. Known as CoCounsel Tax, Audit & Accounting, this innovative system aims to provide a comprehensive solution that not only answers queries but also plans, executes, and delivers finished results that professionals can review and trust with confidence.

Elevating AI in the Tax and Audit Space

CoCounsel represents a significant evolution in AI technology, as it integrates fully into the workflows of tax and audit teams. Unlike existing AI tools that merely perform tasks, CoCounsel takes input from source documents and client data to produce a complete and defensible work output. The essence of this platform is that it doesn’t just automate processes; it embodies professional judgment at every stage, enabling users to generate results grounded in authoritative references.

David Wong, Chief Product Officer at Thomson Reuters, highlighted the importance of this advancement: ‘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.’

A Focus on Professional Judgment

In the fields of tax and audit, the application of professional judgment is paramount. Various factors—including which rules apply, the interpretation of specific client facts, and the governing authority—play a critical role in ensuring the integrity of work outputs. CoCounsel is designed to navigate these complexities effectively, boosting the quality of results while facilitating quicker workflows.

By integrating standardization and reducing manual work, CoCounsel allows tax and audit teams to enhance their capacity, take on more intricate projects, and concentrate on higher-value strategic tasks rather than getting bogged down by repetitive manual processes.

Built on a Robust Foundation

The CoCounsel platform is overall built to connect seamlessly with existing Thomson Reuters tax applications, such as Ready to Review and Ready to Advise. As time progresses, new features will be added to the platform, ensuring that users stay at the cutting edge of technological advancements without disrupting their current workflows. The platform employs a multi-model approach, guaranteeing that customers always utilize the best model available for their specific needs.

Leveraging Authority in Tax Calculations

One of the standout features of CoCounsel Tax, Audit & Accounting is its capability to execute code that verifies calculations—encompassing various financial metrics such as depreciation and required minimum distributions. This allows users to replace rough estimates with precise computations that can be reproduced and validated.

As Joel Hron, Chief Technology Officer at Thomson Reuters, stated, ‘We didn’t just build a tool that does math. We built one that knows why the math is right.’ This assertion underscores the platform's reliance on authoritative datasets, including over 12 million primary and proprietary documents maintained by expert professionals in the field.

Connectivity and Integration

CoCounsel’s design also takes connectivity into account. The platform supports MCP (Multi-Channel Processing) connectivity, allowing it to operate within a variety of other applications and systems. Enhanced integration capabilities will help tax and audit firms connect CoCounsel with the essential tools they already use, reducing the need for context-switching and streamlining overall processes.

Conclusion

Thomson Reuters’ CoCounsel Tax, Audit & Accounting platform is now available for all customers in the United States, marking a pivotal moment for professionals in the tax and accounting sectors. As AI continues to evolve within these fields, Thomson Reuters remains committed to providing solutions that empower professionals to make informed decisions confidently. Visit their website for further details on this innovative platform and its emerging capabilities.