KPMG Demands Fee Reduction from Grant Thornton Accountants Citing AI Efficiencies
Australian Financial Review
ENRICHED
Details
- Date Published
- 10 Feb 2026
- Priority Score
- 1
- Australian
- No
- Created
- 10 Feb 2026, 02:00 am
Description
The big four accounting company’s move to cut fees for its own audit comes amid debate over pricing models now that artificial intelligence is being used.
Summary
KPMG's negotiation for lower fees with its accountant, citing AI-driven cost savings, highlights a significant shift in financial management practices influenced by artificial intelligence. The move underscores the growing impact of AI on traditional pricing models within the accounting sector. However, the article primarily focuses on business cost reduction and efficiency improvements rather than existential or catastrophic AI risks. This development is relevant to global financial governance, but it does not substantially engage with AI safety or policy issues related to catastrophic risks.
Body
CompaniesProfessional ServicesAccountingPrint articleStephen FoleyFeb 10, 2026 – 12.18pmNew York | 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.Loading...Financial TimesSaveLog in or Subscribe to save articleShareCopy linkCopiedEmailLinkedInTwitterFacebookCopy linkCopiedShare via...Gift this articleSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? LoginFollow the topics, people and companies that matter to you.Find out moreRead MoreAccountingKPMGBig four accountantsUKAIFetching latest articles