Thomson Reuters Adds Code Execution to Tax and Audit Software

Thomson Reuters launched an updated CoCounsel platform for U.S. tax, audit and accounting customers Thursday, Oct. 22, adding code execution and document tools for professionals handling multistep work.

The release is available to all U.S. customers. CoCounsel can plan multistep assignments and write and run code for calculations involving depreciation, amortization, required minimum distributions and qualified business income. It can also check thresholds and compare scenarios, bringing assignment planning and calculations into the same workflow as preparing materials for professional review.

For spreadsheet deliverables, the platform can build Excel workbooks with multiple tabs, live formulas and a documented assumptions tab. It can also draft Word and PDF documents. Professionals can upload spreadsheets and documents, which CoCounsel can update to follow the structure of their firms’ workpaper templates.

CoCounsel brings client details, engagement records and workflow information together in one workspace. Its Checkpoint research engine contains more than 12 million documents drawn from primary sources and proprietary analysis. Hundreds of experts, including certified public accountants (CPAs) and tax attorneys, maintain the collection.

“We built one that knows why the math is right,” said Joel Hron, Thomson Reuters’ chief technology officer. The updated platform is designed to prepare calculations and documents that professionals can review as part of their work.

Thomson Reuters introduced CoCounsel for tax, audit and accounting professionals in June 2025. That version included tools to review client files, prepare memos and check compliance, with professionals retaining responsibility for judgment and validation. The latest release adds code execution, spreadsheet generation and document drafting to the product’s workflow.

The company also named UltraTax, Engagement Manager and Guided Assurance as integrations. CoCounsel supports connections through the Model Context Protocol (MCP) to other applications and systems.