Exact has started an accountant program for Exact Online, its web-based application. The program is built around Exact Online for Accountants, which is designed to provide accounting professionals with the ability to collaborate with clients by having real-time access to their financials. Exact Online is designed for companies with fewer than 100 employees.

The American Institute of CPAs' Auditing Standards Board has issued Exposure Draft Proposed Statement on Auditing Standards, Amendment to SAS No. 122 section 700, Forming an Opinion and Reporting on Financial Statements (AICPA, Professional Standards, AU-C sec. 700). The proposed amendments will provide requirements and guidance for reporting on an audit conducted in accordance with both generally accepted auditing standards (GAAS) and standards of the Public Company Accounting Oversight Board.

Intuit has decided to sell the product that started its history in 1982. The company says it will divest Quicken, along with QuickBase and DemandForce. The company revealed its plans in this week's fiscal 2015 earnings webcast this week.

Ross Jenkins, COO of New Zealand-based Xero, will retire by the end of 2015. The company said Jenkins, who has been interim CFO since March will transition that position to the new executive, Sankar Narayan. Jenkins returned to the financial job when Doug Jeffries resigned after eight weeks in that position.