CoCounsel Audit & Accounting AI features and pricing (October 2026)

CoCounsel Audit & Accounting is Thomson Reuters' AI for audit and accounting professionals. It answers technical accounting questions with authoritative citations, drafts workpapers and engagement documents, analyzes client documents and, through Audit Intelligence Test, matches samples to supporting evidence and bank activity.

CoCounsel Audit & Accounting draws on FASB, GASB, AICPA and IFRS guidance, Checkpoint Catalyst and PPC guides. It supports multistep audit, preparation, compilation and review tasks with guided templates and agentic AI, including lease agreement evaluation, variable consideration clauses, trial balance analysis, risk assessment and disclosure checklists. In November 2025 Thomson Reuters announced Audit Intelligence Test, with general availability that month, and CoCounsel Document Analysis, with general availability in January 2026, both first in the United States. Thomson Reuters is based in Toronto.

• Tests samples against evidenceAudit Intelligence Test matches samples to supporting documents, documents the result and traces recorded transactions to banking activity to confirm they occurred and that amounts were collected. Thomson Reuters reports that one firm cut testing from about 16 hours to five or six hours per engagement.
• Reviews client documents in a gridCoCounsel Document Analysis combines agentic AI with a spreadsheet-style grid in which auditors delegate the review of client documents and iterate on the results together. Thomson Reuters reports up to 70 percent faster preparation and workpaper review among early adopters.
• Answers technical accounting questionsCoCounsel answers complex accounting and audit questions with citations from FASB, GASB, AICPA, IFRS and Checkpoint content. Staff get technical answers without waiting for a manager, which reduces review notes.
• Drafts workpapers and engagement documentsThe tool generates workpapers, reports, letters and disclosure checklists and summarizes client documents, including lease agreements and contracts with variable consideration. Teams spend less time on first drafts and standard documentation.

• Grounds research in licensed Thomson Reuters content such as Checkpoint Catalyst and PPC guides alongside FASB, GASB, AICPA and IFRS guidance.
• Supports firms that only do preparation, compilation and review work, not just full audits.
• Audit Intelligence Test traces recorded transactions to bank activity as part of sample testing.

Thomson Reuters launched Audit Intelligence Test and Document Analysis first in the United States; research draws on US standards from FASB, GASB and AICPA.

CoCounsel Audit & Accounting is built around US standards, so it fits firms auditing under US GAAP, GASB or AICPA rules. Pricing is by quote, so ask which features, such as Audit Intelligence Test and Document Analysis, are included in your license. The Thomson Reuters trust center publishes a global customer data processing addendum and a security profile listing SOC 2 documents and ISO/IEC 42001. Hosting region and SSO were not stated, so ask how client documents are stored.

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