Lower demand for “legacy” consulting services has pushed revenue at KPMG down 3.6 per cent, sending partner profits lower by an average of 9 per cent.

The firm also revealed mundane work previously performed by humans, such as reviewing regulatory documentation and creating training materials, was now the partial responsibility of bots. In fact, KPMG has put in place 20 of a planned 125 “digital FTEs” – or full-time equivalents – the firm said.