{"slug": "thomson-reuters-folds-ai-into-its-professional-tax-and-audit-software", "title": "Thomson Reuters folds AI into its professional tax and audit software", "summary": "Thomson Reuters Corp. launched a rebuilt CoCounsel Tax, Audit & Accounting platform that pairs AI agents with its Checkpoint research database of more than 12 million documents to plan assignments, run calculations and draft documents for professional review, and the company said the platform is available to all U.S. customers. The system breaks complex requests into steps, executes code such as Python routines to check spreadsheet results, and provides citations and assumptions, with support for Model Context Protocol connections to third-party tools including Anthropic's Claude and Microsoft's Copilot. Chief Product Officer David Wong cited staffing shortages as a demand driver, while vice president of engineering Lucas Adams said the practical test is whether verification takes less time than manual work: \"If it takes just as much time to verify the work than it takes to do the work, AI is not really helpful.", "body_md": "### Thomson Reuters folds AI into its professional tax and audit software\n\nThomson Reuters Corp. today is launching a rebuilt version of its CoCounsel Tax, Audit & Accounting platform designed to move beyond answering questions to planning assignments, performing calculations and producing documents for professional review.\n\nThe enhanced platform combines artificial intelligence agents with client information, tax research and code execution to complete complex tasks such as building amortization schedules, preparing spreadsheets and drafting memos. The company said the new platform is available to all U.S. customers.\n\nThe release targets a challenge in applying generative AI to professional services: A mathematically correct answer can still be wrong if the system uses the wrong tax rule, overlooks client circumstances or fails to explain its reasoning.\n\n“They expect close to perfection with any tool that they use,” Chief Product Officer David Wong said of tax accountants during a briefing.\n\nUnlike its predecessor, which was designed around individual tasks, the rebuilt system can break complex requests into steps and select tools and information needed to execute them, Wong said. Professionals still must review and verify the results. The system provides citations, assumptions and calculations to help them assess its conclusions before approving work.\n\nThe research database is Checkpoint, Thomson Reuters’ collection of more than 12 million primary-source and analytical documents, maintained by hundreds of experts. The platform supports multiple AI models.\n\nIn a demonstration, David Ragones, head of product for direct tax and audit, showed how CoCounsel could use a commercial loan agreement and a firm’s spreadsheet template to produce an amortization schedule for a $5 million loan. The example included changing interest rates, a lump-sum payment and a balloon payment at maturity.\n\nThe resulting workbook contained live formulas, supporting assumptions and references. Users can select individual cells and ask CoCounsel to explain the calculations and their sources.\n\nThe demo also showed the system recalculating spreadsheet results using Python routines as a check on their accuracy. “A lot of times showing the work is actually doing the work,” said Lucas Adams, Thomson Reuters’ vice president of engineering.\n\nSecurity controls limit agents to files permitted by the user’s access and the relevant workspace. Adams said those restrictions extend into the underlying infrastructure. Internet access is limited to approved government websites alongside Checkpoint.\n\nA shared client context layer preserves uploaded documents and completed work across conversations, reducing the need to repeatedly supply background information. Integrations include Thomson Reuters’ UltraTax, Engagement Manager and Guided Assurance.\n\nSupport for Model Context Protocol allows connections with other systems and access to cited tax and accounting answers through third-party AI tools, including Anthropic PBC’s Claude and Microsoft Corp.’s Copilot.\n\nWong said staffing shortages are helping drive demand as firms seek to handle workloads without expanding seasonal hiring. Thomson Reuters also sees an opportunity to free professionals for advisory work.\n\nExecutives acknowledged that the practical test is whether reviewing AI output takes less effort than producing it manually. “If it takes just as much time to verify the work than it takes to do the work, AI is not really helpful,” Adams said.\n\n##### Photo: [Unsplash](https://unsplash.com/photos/person-reviewing-documents-with-calculator-and-laptop-0oZpRxG5Hkk)\n\n# A message from John Furrier, co-founder of SiliconANGLE:\n\nSupport our mission to keep content open and free by engaging with theCUBE community. **Join theCUBE’s Alumni Trust Network**, where technology leaders connect, share intelligence and create opportunities.\n\n- **15M+ viewers of theCUBE videos** , powering conversations across AI, cloud, cybersecurity and more\n- **11.4k+ theCUBE alumni** — Connect with more than 11,400 tech and business leaders shaping the future through a unique trusted-based network\n\n### Are you an AWS customer?  Support SiliconANGLE financially by buying your AWS services from our Marketplace portal page and links: [https://siliconangle.com/aws-marketplace/](https://siliconangle.com/aws-marketplace/)\n\n##### **About SiliconANGLE Media**\n\n[SiliconANGLE](https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fsiliconangle.com%2F&esheet=54119777&newsitemid=20240910506833&lan=en-US&anchor=SiliconANGLE&index=9&md5=646b1b564e2259100a2b8638aab0a552),\n\n[theCUBE Network](https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.thecube.net%2F&esheet=54119777&newsitemid=20240910506833&lan=en-US&anchor=theCUBE+Network&index=10&md5=7de2a85f95ab4a4a495cede20b8cb1da),\n\n[theCUBE Research](https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fthecuberesearch.com%2F&esheet=54119777&newsitemid=20240910506833&lan=en-US&anchor=theCUBE+Research&index=11&md5=7bb33676722925eb57d588ec343e4f6f),\n\n[CUBE365](https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.cube365.net%2F&esheet=54119777&newsitemid=20240910506833&lan=en-US&anchor=CUBE365&index=12&md5=d310fb35919714e66ad8d42c9c0c1bc6),\n\n[theCUBE AI](https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.thecubeai.com%2F&esheet=54119777&newsitemid=20240910506833&lan=en-US&anchor=theCUBE+AI&index=13&md5=b8b98472f8071b23ebb10ab9a8dd0683)and theCUBE SuperStudios — with flagship locations in Silicon Valley and the New York Stock Exchange — SiliconANGLE Media operates at the intersection of media, technology and AI.\n\nFounded by tech visionaries John Furrier and Dave Vellante, SiliconANGLE Media has built a dynamic ecosystem of industry-leading digital media brands that reach 15+ million elite tech professionals. Our new proprietary theCUBE AI Video Cloud is breaking ground in audience interaction, leveraging theCUBEai.com neural network to help technology companies make data-driven decisions and stay at the forefront of industry conversations.", "url": "https://wpnews.pro/news/thomson-reuters-folds-ai-into-its-professional-tax-and-audit-software", "canonical_source": "https://siliconangle.com/2026/10/22/thomson-reuters-folds-ai-into-its-professional-tax-and-audit-software/", "published_at": "2026-10-22 13:00:58+00:00", "updated_at": "2026-10-22 13:11:15.693460+00:00", "lang": "en", "topics": ["ai-agents", "ai-products", "agent-protocols", "artificial-intelligence", "generative-ai"], "entities": ["Thomson Reuters Corp.", "CoCounsel Tax, Audit & Accounting", "Checkpoint", "David Wong", "David Ragones", "Lucas Adams", "Anthropic PBC", "Microsoft Corp."], "also_reported_by": [], "alternates": {"html": "https://wpnews.pro/news/thomson-reuters-folds-ai-into-its-professional-tax-and-audit-software", "markdown": "https://wpnews.pro/news/thomson-reuters-folds-ai-into-its-professional-tax-and-audit-software.md", "text": "https://wpnews.pro/news/thomson-reuters-folds-ai-into-its-professional-tax-and-audit-software.txt", "jsonld": "https://wpnews.pro/news/thomson-reuters-folds-ai-into-its-professional-tax-and-audit-software.jsonld"}}