The growing scandal over the firm’s misuse of confidential client documents will reduce contracts, and exacerbate financial pressures leading to job losses.

The firm’s furious new chief executive John Sams told a hastily convened call that the former chief operating officer Eileen Hoggett would be expelled entirely.

KPMG has fired one of its most senior executives with immediate effect, after a core whistleblower allegation concerning confidential customer data was confirmed to be true.