Hutchinson and Bloodgood LLP embraces AI-powered workflow with Thomson Reuters advanced audit solutions

Thomson Reuters (TSX/Nasdaq: TRI), a global content and technology company, today announced it has signed Hutchinson and Bloodgood (H&B) as a new customer of CoCounsel  and Cloud Audit Suite, including Audit Intelligence Analyze   . This partnership equips H&B with a comprehensive solution, featuring advanced AI capabilities to streamline its audit workflow and improve overall efficiency.

Leander Sico, partner at H&B, said: “Cloud Audit Suite offers a reliable methodology with the industry content our firm needs, an easy transition to the cloud, and seamless integration. Having a single cloud-based system eliminates the need to install updates on workstations, ensures everyone has the latest content, and simplifies our workflow to complete work more efficiently.”

As a leading accounting firm, California-based H&B is focused on having the latest technology and automating their workflow, adds Sico: “Partnering with Thomson Reuters takes our audit practice to the next level and helps us provide better services to our clients. I’m eager to see how AI, particularly CoCounsel, can expedite our tax and audit research by analyzing contracts and agreements for evaluating matters such as revenue recognition and lease accounting. With Audit Intelligence Analyze, I anticipate significant savings in time spent on testing revenue and expenses compared to our previous methods, especially with the ability to focus on higher risk transactions.”

Despite mounting pressure to modernize, research from Thomson Reuters reveals only 12% of firms have fully embraced digital transformation. While there is significant interest among audit firms in adopting advanced technologies like AI to enhance audit processes, today only half of firms in the U.S. have so far implemented progressive technologies. Thomson Reuters continues to prioritize innovation in its audit solutions to help firms remain competitive with progressive technologies. The company recently debuted CoCounsel Audit, an AI-powered assistant purpose-built for modern audit professionals. It combines explainable answers, agentic task execution, and firms’ internal and regulatory knowledge into one intelligent platform, helping auditors deliver quality work faster.

Dave Wyle, general manager of Audit at Thomson Reuters, said: “At Thomson Reuters, we’re committed to empowering firms with innovative technology that transforms their audit workflow. Hutchinson and Bloodgood’s adoption of Cloud Audit Suite and CoCounsel represents the forward-thinking approach and technology modernization firms need in today’s rapidly evolving landscape. By embracing our comprehensive cloud solution with integrated AI capabilities, H&B is positioning themselves to deliver higher quality audits more efficiently while focusing their professional expertise where it matters most. We’re proud to partner with them on this journey toward the future of audit.”

 Thomson Reuters (TSX/Nasdaq: TRI) informs the way forward by bringing together the trusted content and technology that people and organizations need to make the right decisions. The company serves professionals across legal, tax, accounting, compliance, government, and media. Its products combine highly specialized software and insights to empower professionals with the data, intelligence, and solutions needed to make informed decisions, and to help institutions in their pursuit of justice, truth, and transparency. Reuters, part of Thomson Reuters, is a world-leading provider of trusted journalism and news. For more information, visit tr.com.

For over a century, Hutchinson & Bloodgood LLP has been dedicated to delivering exceptional service and trusted advice, driven by their mission to Serve the Client. The firm focuses on exceeding client expectations by providing customized solutions and valuable tools to help clients achieve their dreams and goals. With five offices across California, their team of experts, with diverse backgrounds and varied work experience, is committed to delivering high-quality accounting and consulting services.