A problem was escalated to me recently from another technician who encountered this error while upgrading from QuickBooks 2008 to 2009 Pro. The upgrade appeared to be working properly until almost the very end where the system threw an error 1317 and referred me to the Quickbooks website which had nothing on error code 1317. A quick google search confirmed that the issue was a permissions (ACL) related error.
One of the best places to always go for more information is the Microsoft Event Viewer. A quick check their showed an error in MSIEXEC (which is the Microsoft Installer Service), and in the details it showed the full path to the folder it couldn’t access. Browsing to the folder showed that read only permissions were granted to the logged in user. A quick permission change to enable full access to the folder, permitted the installation to complete successfully.
If that does not resolve your problem, see the following Quickbooks KB which has a batch utility which will reset all permissions: