Thomson Reuters touts agentic AI enhancements

Thomson Reuters announced a host of new agentic AI enhancements to tax, audit and accounting workflows. 

“The accounting profession is at an inflection point, where AI is no longer just a productivity tool but a fundamental transformation in how work gets done,” said Elizabeth Beastrom, president of tax and accounting professionals at Thomson Reuters. “Our agentic AI solutions are designed to cut down time-consuming tasks that have traditionally consumed so much of professionals’ time, freeing them to provide the strategic advisory their clients need. Agentic AI reduces repetitive work so professionals can advise with speed and confidence. With CoCounsel now in use at over 1,300 firms, we’re building on that momentum to help the profession modernize and grow.”

Ready to Review, which was first rolled out over the summer through an early adopter program, is now generally available. The solution is aimed specifically at 1040 tax return preparation, using AI agents to process source documents and prior-year returns, extract and categorize data, and generate returns that are ready for professional review. 

Thomson Reuters also announced the release of its new Audit Intelligence Test solution, which uses AI agents to automate the matching and documenting of samples to supporting evidence and quickly validates whether amounts were collected. By dynamically tracing accounting transactions to corresponding banking activity, firms can confirm that recorded transactions have occurred, and document complex situations – such as matching a single customer payment to the multiple invoices it might cover. The solution was developed in partnership with Valid8 Financial to bring capacities traditionally used in transaction advisory, litigation support, forensic investigations and financial crime work to auditors within an integrated workflow. 

In addition, the company released agentic AI-based enhancements to its CoCouncil Tax, Audit and Accounting solution, which was first announced earlier this year. CoCounsel is described as a vertical-specific AI agent designed for modern tax and accounting professionals that automates work such as client review, memo drafting, and compliance checks, and provides explainable outputs if people wonder how the bot came to the conclusions it did. By drawing on multiple sources of information, it can also connect firm knowledge, Checkpoint, IRS code, and internal documents into a single AI-guided workspace.

The new expansion includes rights to authoritative content from AICPA, FASB, GASB, and IFRS (including sustainability standards), integrating directly into CoCounsel’s single AI guided workflow. The update builds on the Spring 2025 launch of the platform, which connected firm knowledge, Checkpoint, IRS code, and internal documents. Meanwhile, Thomson Reuters said CoCouncil now has a Document Analysis solution as well. The new feature combines agentic AI with a dynamic, spreadsheet-native grid, automating complex audit workflows at scale. The solution supports professionals to iterate, customize, and collaborate in real time – auditors will also be able to delegate client document review to this solution.These products and enhancements were announced at the Synergy 2025 Conference for Tax, Audit and Accounting Professionals.