Independent tax preparers have lost market share and will continue to be under pressure, H&R Block said this week. In comments made an an investor's day webcast, Block reported that independents, which it says comprise 44 percent of the preparation market, had lost about 1 percent of market share since 2010.

A former Scottsdale, Ariz., CPA had been sentenced to 35 years in prison for bilking six clients, including a childhood friend, out of nearly $1 million. Danny Wise was sentenced this month after being found guilty in October of eight counts of fraud and 22 counts of theft for keeping clients federal tax payments instead of transferring them to the Internal Revenue Service.

The Public Company Accounting Oversight Board has reproposed amendments to PCAOB auditing standards for public comment, which would require disclosing the names of engagement partners who led the most recent audit of a company. The changes would also require dislcosing the locations and extent of participation of other firms and individuals who took part in the audits.