News

The American Institute of CPAs this week ratcheted up its opposition to a proposal by the Internal Revenue Service for a voluntary certification program for paid preparers. The AICPA, which had previously voiced its opposition, now says the program is not lawful.

Intuit has notified users that it is dropping Intuit Online Practice Management. It was a product that was two years late in getting to market and has been on the market less than a year.

Two brothers, who are Canadian Chartered Accountants, have been barred from practicing before the SEC for failing to discover a Chinese client company had virtually no clients or sales. Bryce and Spence Walker were partners of the accounting firm DNTW Chartered Accountants when they audited the financial statements of Subaye from 2007 through December 2010.

Intuit is expected to announce this week, QuickBooks Connect, a first-time major conference that will draw accountants and small business owners. The event is scheduled to begin on October 21 through 23 in San Jose, Calif., and the company is reportedly talking about attendance of between 4,000 and 7,000, expected to include developers and entrerepeneurs getting ready to start businesses.