The new ingredient in tax and accounting platforms is AI, and Thomson Reuters has recently added agentive AI to its tax, audit, and accounting workflows.
These newest offerings from Thomson Reuters are designed to expand the company’s agentic AI capabilities to automate routine tasks, increase efficiency, and potentially help accounting professionals rethink how they handle tax preparation and audit engagements.
First out of the gate is Ready to Review, a cloud-based, advanced agentic AI tax workflow application. Built on its existing CoCounsel Tax, Audit and Accounting platform, this solution modernizes 1040 tax return preparation by using AI agents to process source documents and prior-year returns, extract and categorize data, and generate returns that are ready for professional review. Firms can potentially handle higher volumes during peak season while maintaining accuracy and quality.
Also, within In CoCounsel Tax, Audit and Accounting, Thomson Reuters has expanded the platform’s knowledge base to include 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.
CoCounsel Document Analysis is the new AI-powered grid solution from Thomson Reuters. Deeply integrated with CoCounsel Audit, the solution 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.
Thomson Reuters customers taking part in the early adopter program saw up to 70% faster preparation and workpaper review thanks to AI automation, effectively cutting down manual efforts and complexity and achieving significant time savings across document setup.
Audit Intelligence Test is the newest addition to Thomson Reuters Audit Intelligence. Powered by AI, it automates 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 quickly confirm that recorded transactions have occurred and document complex situations. For example, matching a single customer payment to the multiple invoices it might cover.
Developed in partnership with Valid8 Financial, Audit Intelligence Test brings Thomson Reuters customers technology traditionally used in transaction advisory, litigation support, forensic investigations, and financial crime work. Now, this capability is available to auditors within an integrated workflow to help teams standardize procedures, streamline evidence gathering, and improve documentation quality.
For more information about recent product launches and enhancements for tax, audit, and accounting, visit the company’s Innovation Blog.