Thomson Reuters launches agentic AI for tax and accounting professionals

Thomson Reuters has launched a new vertical-specific AI platform designed to automate complex tax, audit and accounting tasks – marking what the company describes as a “fundamental shift” in how professional-grade AI tools will be used in practice.

The company’s new offering, CoCounsel for tax, audit and accounting professionals, is the first of a series of ‘agentic AI’ systems, a category of technology that aims to go beyond prompt-and-response chatbots.

Instead, agentic AI is capable of planning, reasoning, acting and reacting to complete multi-step assignments with limited supervision.

“The tax and accounting profession today faces unprecedented challenges – from talent shortages to regulatory complexity to rising client expectations. Agentic AI offers a transformative solution,” said Elizabeth Beastrom, President of Tax and Accounting Professionals at Thomson Reuters.

“Our CoCounsel platform represents a fundamental shift – delivering intelligent systems that autonomously complete complex tasks with minimal supervision,” Beastrom added.

“The future of accounting is about expertise, judgment and consultation – and with agentic AI, that future is here today.”

According to Thomson Reuters, CoCounsel is designed to operate inside real-world workflows and is trained with domain-specific knowledge from legal, tax and accounting professionals.

It integrates tools like Checkpoint and the IRS code, as well as firm-specific knowledge, into a single workspace – producing explainable outputs for tasks such as client file reviews, memo drafting and compliance checks.

The company stressed that while CoCounsel is designed to act autonomously, it keeps humans firmly in the loop. Outputs are still guided and validated by professionals to ensure quality and accountability.

Zachary Iannotta, CPA and Assurance Associate at HBK CPAs & Consultants, said: “CoCounsel has revolutionized the way our team approaches our daily workload.

Not only does CoCounsel save us countless hours of manual work, but it also allows us time to hone in on the more thought-intensive tasks we perform to enhance, strengthen, and optimize the way we serve our clients. CoCounsel doesn’t replace our expertise – it amplifies it.”

A second agentic experience, “Ready to Review,” is set to launch next. Built on the GoSystem Tax Engine, the application is designed to draft tax returns, respond to system feedback and resolve diagnostics without intervention – potentially redefining what AI-led tax preparation can look like in practice.

Thomson Reuters’ move into agentic AI comes as the profession grapples with pressure to improve productivity and fill skills gaps.

By focusing on domain-specific automation, the company joins a growing group of providers betting on AI’s ability to reshape how accountancy work is carried out at scale.