KPMG demanded a discount from its auditor for AI cost savings

new York | KPMG, one of the world’s largest auditors of public and private companies, has negotiated lower fees from its own accountant by arguing that AI will make the work cheaper, people familiar with the matter say.

The big four companies told their auditor Grant Thornton UK to pass on cost savings from adopting AI and threatened to find a new accountant if they didn’t agree to a significant fee cut, the people said.

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