Yes, I know it's not a "business" application but I guarantee that it will create calls if you have a user affected. It looks like AVG has fixed it, but in case you have some machines with definitions before the fix here is the info.

Link -

iTunes reported as a Trojan by AVG - How to Fix
Saturday, 25th July 2009 - Unfortunately, a recent virus database update resulted in iTunes being detected as a Trojan by AVG security products. We can confirm that it was a false alarm. AVG immediately released a new virus database update (definition file 270.13.29/2260) that corrected this issue.

If you are having problems, please update your AVG and check your iTunes again.

If you find that iTunes is not working after you update AVG, you can restore the deleted iTunes files from the AVG Virus Vault by following the steps below:

Open the AVG user interface.
Choose "Virus Vault" option from the "History" menu.
Locate the iTunes file that was incorrectly removed and select it (one click).
Click on the "Restore" button.
We are sorry for the inconvenience.

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