Exposure Drafts Outstanding.

(This list was compiled as of June 1, 2000. For exposure drafts issued after that date, consult The CPA Letter.

Note: The policy for updating the list of exposure drafts is that a document should remain on the list until a final document had been issued or the project has been dropped. However, no comments will be received after the comments deadline has expired.)

Issue                                                       Comment
Date       Title or Description                            Deadline

FASB

3/03/00    Accounting for Certain Derivative Instruments     4/2/00
           and Certain Hedging Activities (an amendment
           of FASB Statement no. 133)

2/17/00    Accounting for Obligations Associated with       5/18/00
           the Retirement of Long-Lived Assets
12/14/99   Reporting Financial Instruments and              5/31/00
           Certain Related Assets and Liabilities at
           Fair Value (preliminary views)
9/7/99     Business Combinations and Intangible Assets      12/7/99

8/11/99    Classification and Measurement of Financial      9/25/99
           Assets Securitized Using a Special-Purpose
           Entity (proposed technical bulletin)

6/28/99    Accounting for Transfers of Financial Assets     9/27/99
           (an amendment of FASB Statement no. 125)

2/23/99    Consolidated Financial Statements:               5/24/99
           Purpose and Policy

10/16/98   Rescission of FASB Statement No. 53              1/18/99

8/21/90    Distinguishing Between Liability and Equity      12/31/90
           Instruments With Characteristics of Both
           (discussion memorandum)

AcSEC (AICPA)

5/30/00    Accounting by Certain Financial Institutions     8/31/00
           and Entities That Lend to or Finance the
           Activities of Others (an amendment
           of existing AICPA audit and
           accounting guides)

4/3/00     Proposed Statement of Position: Accounting        6/5/00
           by Insurance Enterprises for Demutualizations
           and Formations of Mutual Insurance Holding
           Companies and for Certain Long-Duration
           Participating Contracts

3/22/00    Proposed Statement of Position: Accounting       6/22/00
           for and Reporting of Certain Health and
           Welfare Benefit Transactions (amendment to
           Audit and Accounting Guide, Audits of
           Employee Benefit Plans, and SOP 92-6)

12/30/98   Proposed Statement of Position: Accounting       4/29/99
           for Discounts Related to Credit Quality

10/16/98   Proposed Statement of Position: Accounting       1/18/99
           by Producers and Distributors of Films

ASB (AICPA)

5/1/00     Proposed Statement on Auditing Standards,        6/30/00
           Omnibus Statement on Auditing Standards--
           2000

ASB (AICPA)

4/14/00    Proposed Statement on Standards for              6/15/00
           Attestation Engagements: Attestation
           Standards: Revision and Recodification

11/29/99   Proposed Statement on Auditing Standards:        1/28/00
           Amendment to Statement on Auditing
           Standards No. 69, The Meaning of Present
           Fairly in Conformity With Generally Accepted
           Accounting Principles in the Independent
           Auditor5 Report

6/10/99    Proposed Statement on Auditing Standards:       11/10/99
           Auditing Financial Instruments (to supersede
           SAS no. 81, Auditing Investments)

Other (AICPA)

4/18/00    Proposed Statements on Standards for Tax         7118/00
           Services and Interpretation

4/15/00    Omnibus Proposal of Professional Ethics          6/15/00
           Division Interpretations and Rulings

12/31/99   Proposed Statement on Standards for               6/9/00
           Accounting and Review Services: Amendment
           to Statement on Standards for Accounting and
           Review Services 1, Compilation and Review of
           Financial Statements

12/31/99   Proposed Statement on Standards for               6/9/00
           Accounting and Review Services: Financial
           Statements Included in Written Business
           Valuations

5/17/99    Proposed Revisions to the AICPA Standards        8/10/99
           for Performing and Reporting on Peer Reviews

9/22/98    Proposed Audit and Accounting Guide:            12/22/98
           Audits of Investment Companies

9/4/98     Proposed Audit and Accounting Guide:             12/4/98
           Life and Health Insurance Entities

SEC

2/18/00    SEC Concept Release: International               5/23/00
           Accounting Standards

1/21/00    Supplementary Financial Information              4/17/00
10/8/99    Audit Committee Disclosure                      11/29/99
3/19/99    Offer and Sale of Securities to Canadian         5/28/99
           Tax-Deferred Retirement Savings Accounts

3/10/99    Rulemaking for EDGAR System (Changes             4/15/99
           for EDGAR Modernization)

3/1/99     Financial Statements and Periodic Reports         5/4/99
           for Related Issuers and Guarantors

SEC

2/9/99     International Disclosure Standards               4/12/99

12/4/98    The Regulation of Securities Offerings           6/30/99
11/13/98   Cross-Border Tender Offers, Business             2/16/99
           Combinations and Rights Offerings

GASB

12/9/94    The Financial Reporting Entity: Affiliated       2/28/95
           Organizations

IASC

7/31/99    Agriculture                                      1/31/00

IFAC

5/24/00    Financial Reporting under the Cash Basis        11/30/00
           of Accounting (ED 9, proposed statement
           of international public sector accounting)

3/00       CIS Environments (proposed international         7/31/00
           auditing practice statements)

3/00       Fraud and Error (proposed                        6/30/00
           international standard on auditing)

12/1/99    Acquisition of Information Technology            3/31/00

12/1/99    Implementation of Information Technology         3/31/00
           Solutions

12/1/99    Service Delivery and Support                     3/31/00

IFAC

3/1/99     Assurance Engagements (proposed                  7/31/99
           international standard on auditing)

11/1/98    External Confirmations (proposed                 3/31/99
           international standard on auditing)

8/1/98     Preface to Statements of International          12/31/98
           Public Sector Accounting Standards

ISB

2/00       A Conceptual Framework for Auditor               5/31/00
           Independence (Discussion Memorandum,
           DM 00-1)

6/00       Deferral of Effective Date of ISB Standard        7/5/00
           no. 2, Certain Independence Implications of
           Audits of Mutual Funds and Related Entities
           (ED 00-1)

GAO

4/14/00    Government Auditing Standards:                   6/30/00
           Independence (preliminary views)

FASAB

5/10/00    Credit Program Reconciliation and                8/10/00
           Technical Amendments to Accounting
           Standards for Direct Loans and Loan
           Guarantees in Statement of Federal Financial
           Accounting Standards no. 2 and no. 18

New additions appear in bold type.

INFORMATION

The initials stand for the following organizations. Exposure drafts are available online at the Web addresses below or copies may be obtained at the address in parentheses (unless otherwise indicated).

FASB-- Financial Accounting Standards Board (Order Department, Financial Accounting Standards Board, 401 Merritt 7, P.O. Box 5116, Norwalk, CT 06856-5116); also available online at www.fasb.org

GASB-- Governmental Accounting Standards Board (Order Department, Governmental Accounting Standards Board, 401 Merritt 7, P.O. Box 5116, Norwalk, CT 06856-5116); also available online at www.gasb.org

AICPA-- American Institute of CPAs (American Institute of Certified Public Accountants, Harborside Financial Center, 201 Plaza Three, Jersey City, NJ 07311-3881). As of May 1, 2000, AICPA publishes exposure drafts exclusively on the Web site at www.aicpa.org. Print copies will not be available.

IASC-- International Accounting Standards Committee (International Accounting Standards Committee, 166 Fleet Street, London EC4A 2DY, England); also available online at www.iasc.org.uk

IFAC-- International Federation of Accountants (International Federation of Accountants, 535 Fifth Avenue, 26th Floor, New York, NY 10017); also available online at www.ifac.org

ISB-- Independence Standards Board (6th Floor, 1211 Avenue of the Americas, New York, NY 10036-8775); also available online at www.cpaindependence.org

SEC-- Securities and Exchange Commission (Securities and Exchange Commission, 450 5th Street, N.W., Washington, DC 20549); also available online at www.sec.gov/rules/propridx.htm and www.sec.gov/rules/concindx.htm#con

FASAB-- Federal Accounting Standards Advisory Board (Federal Accounting Standards Advisory Board, 441 G Street, N.W., Suite 3B18, Washington, DC 20548); also available online at www.financenet.gov/fasab.htm

GAO-- U.S. General Accounting Office (Government Auditing Standards Comments, Marcia B. Buchanan, U.S. General Accounting Office, Room 5089, 441 G Street, N.W., Washington, DC 20548); www.gao.org

AICPA TECHNICAL HOTLINE

The Technical Information Service answers inquiries about specific audit or accounting problems. Call toll-free: 1-888-777-7077. This service, is free to AICPA members.

Note: The above list is not all-inclusive but is intended to present the exposure drafts of particular interest to professional accountants.