U.K.-based KPMG International, which helps coordinate its locally owned branches around the world, reportedly tried to negotiate down fees from the firm that audits its books, Grant Thornton UK, arguing the audit could be done more efficiently with AI. Regulatory filings show there was a fee reduction between 2024 and 2025, FT found. (Financial Times)

Talking point: The squabble between the two auditing and accounting giants could have many companies examining their own bills from KPMG and Grant Thornton more closely. It suggests the auditing industry is already seeing increased productivity from AI, but hasn’t settled on how to divvy up cost savings that come with it. Still, Grant Thornton told FT that “high‑quality audits rely heavily on expert human judgment,” and that’s reflected in its fees.