Thomson Reuters rebuilds CoCounsel for tax and audit

Thomson Reuters has launched a rebuilt CoCounsel Tax, Audit & Accounting platform that moves beyond answering questions to planning assignments, performing calculations and producing documents for professional review. The system combines AI agents with client data, tax research and code execution to handle tasks such as building amortization schedules and drafting memos. It draws on the Checkpoint research database of over 12 million documents and supports integrations with UltraTax, Engagement Manager and third-party tools including Claude and Microsoft Copilot. Professionals must still review and verify all output before approving work.