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134 KPMG Pressed Its Auditor To Pass on AI Cost Savings

Slashdot
msmash @ Slashdot · today 11:31 EDT

KPMG Pressed Its Auditor To Pass on AI Cost Savings

An anonymous reader shares a report: KPMG, one of the world's largest auditors of public and private companies, negotiated lower fees from its own accountant by arguing that AI will make it cheaper to do the work, according to people familiar with the matter. The Big Four firm told its auditor, Grant Thornton UK, it should pass on cost savings from the rollout of AI and threatened to find a new accountant if it did not agree to a significant fee reduction, the people said.

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