According to the company, the first tool reaching the market, Audit Intelligence Analyze, utilizes AI and machine learning “to simultaneously enhance both audit quality and efficiency.”

Analyze is expected to be generally available in this United States this year and to reach the United Kingdom next year.  It can be used as part of the Thomson Reuters Cloud Audit Suite, and also in a stand-alone mode.

Analyze has what Thomson terms advanced anomaly detection and integrates within existing workflow.

The Audit Intelligence suite will integrate with CoCounsel, the company’s GenAI assistant, which will reach the market next year. Auditors can employ CoCounsel along with Thomson Reuters Guided Assurance to automate the completion of audit program steps and checklists.

Planned additions to the suite will include Audit Intelligence Test to automates substantive testing and verification by dynamically tracing accounting transactions to banking activity and supporting documentation, and Audit Intelligence Plan, for merging full data populations with technology-driven analytics.

Bob Scott

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Bob Scott has provided information to the tax and accounting community since 1991, first as technology editor of Accounting Today, and from 1997 through 2009 as editor of its sister publication, Accounting Technology. He is known throughout the industry for his depth of knowledge and for his high journalistic standards.  Scott has made frequent appearances as a speaker, moderator and panelist and events serving tax and accounting professionals. He  has a strong background in computer journalism as an editor with two former trade publications, Computer+Software News and MIS Week and spent several years with weekly and daily newspapers in Morris County New Jersey prior to that.  A graduate of Indiana University with a degree in journalism, Bob is a native of Madison, Ind