Thomson Reuters has launched an updated version of its CoCounsel Tax, Audit & Accounting platform. The system now utilizes AI agents to perform complex tasks, including document drafting, spreadsheet preparation, and the creation of amortization schedules.
The platform integrates with the Checkpoint database, which contains over 12 million documents. It supports multiple AI models and offers interoperability with third-party tools such as Microsoft Copilot and Anthropic Claude via the Model Context Protocol.
The system is designed to handle multi-step requests by selecting necessary tools and information. It provides users with citations, underlying assumptions, and calculations to facilitate professional verification of all AI-generated outputs.
Security measures restrict AI agents to user-permitted files and specific workspaces, with internet access limited to government sites and the Checkpoint database. The platform also integrates with existing software like UltraTax and Engagement Manager.
The company aims to address industry staffing shortages and reduce manual workloads. Thomson Reuters emphasizes that the platform is currently available to all customers in the United States.
