LBMC selects Thomson Reuters for efficient and compliant audit planning

TORONTO, March 5, 2025 – Thomson Reuters (TSX/Nasdaq: TRI), a global content and technology company, today announced it has signed LBMC as a new customer of Guided Assurance, part of Cloud Audit Suite. This collaboration supports LBMC with an automated, cloud-based solution to perform all types of engagements, delivering efficient audits that comply with professional standards.

Chad Milom, audit and advisory shareholder at LBMC, said: “After evaluating multiple solutions, we selected Guided Assurance as our methodology because it offers the most value and standardization across the broadest array of industries, and can be used with any engagement binder software. Our team can work from a single platform, collaborate in real time throughout the planning process, and better plan responses to identified risks.”

LBMC, recognized in USA Today’s 2025 list of America’s Most Recommended Tax and Accounting Firms, is committed to leveraging innovation to drive efficiency gains and deliver higher-quality client services. “The move to Guided Assurance will bring significant benefits to our firm, including increased efficiency, enhanced collaboration, and a more effective audit process overall,” added Milom.

As the audit profession stands at a critical crossroads, research from Thomson Reuters reveals only 12% of firms have fully embraced digital transformation, despite mounting pressure to modernize. Thomson Reuters continues to prioritize innovation in its audit solutions to help firms remain competitive with progressive technologies. Its latest AI-powered auditing solution Audit Intelligence Analyze is recognized as a 2025 Top New Product by Accounting Today, and the company will debut Audit Intelligence Test later this year.

Dave Wyle, general manager of Audit at Thomson Reuters, said: “We are proud to see industry leaders like LBMC selecting Guided Assurance, our cloud-based audit methodology, to improve and modernize their audit planning process. With the move to Guided Assurance, LBMC will benefit from workflow efficiencies offered by this innovative solution, as well as the flexibility to integrate our leading methodology with the engagement manager of their choice. Thomson Reuters is committed to providing customers with best-in-class solutions that drive excellence and optimization in the audit profession, supporting digital transformation without disrupting their workflow.”

Thomson Reuters
Thomson Reuters (TSX/Nasdaq: TRI) (“TR”) 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.

LBMC
LBMC is the largest professional service solutions provider based in Tennessee. Founded in 1984, LBMC started as a traditional accounting firm with a simple mission: to serve a great group of clients and enjoy doing it. Now, LBMC has been named a top 50 firm in the country and is recognized as industry leaders in financial, human resources, technology, information security, and wealth advisory services backed by more than 850 team members.

Contact
Kirsty Bennett
Communications Director, Tax & Accounting Professionals
kirsty.bennett@thomsonreuters.com