Exposure drafts outstanding.

(This list was compiled as of April 1, 2004. 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 has been issued or the project has been dropped. However, no comments will be received after the comments deadline has expired.

The list is not all-reclusive but is intended to present the exposure drafts of particular interest to professional accountants.)

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 (Older 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). AICPA publishes exposure drafts exclusively on the Web site at www.aicpa.org Print copies are not available.

IASB--International Accounting Standards Board (International Accounting Standards Board, 30 Cannon Street, London EC4M 6XH, United Kingdom), also available online at www.iasb.org.uk

IFAC--International Federation of Accountants (International Federation of Accountants 545 Fifth Avenue, 14th Floor; New York, NY 10017); also available online at www.ifac.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

FASAB--Federal Accounting Standards Advisory Board (Federal Accounting Standards Advisory Board, 441 G Street, N.W., Suite 6814, Washington, DC 20548); also available online at www.fasab.gov

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.gov

PCAOB--Public Company Accounting Oversight Board, 1666 K Street, N.W., Washington, DC 20006-2803; [e-mail]

AICPA TECHNICAL HOTLINE

The Technical Information Service answers inquiries about specific audit or accounting problems. Call toll-free 1-888-777-7077 or e-mail query to [e-mail]. This service is free to AICPA members.

Exposure Drafts Outstanding

Issue                                                           Comment
Date                       Title or Description                Deadline

FASB

3/31/04 **      Share-Based Payment--an amendment of FASB    6/30/04 **
                Statements No. 123 and 95 **

12/15/03        Inventory Costs--an amendment of ARB No.        4/13/04
                43, Chapter 4

12/15/03        Earnings per Share--an amendment of FASB        4/13/04
                Statement No. 128

12/15/03        Exchanges of Productive Assets--an              1/13/04
                amendment of APB Opinion No. 29

12/15/03        Accounting Changes and Error Corrections--      4/13/04
                a replacement of APB Opinion No. 20 and
                PASB Statement No. 3

6/10/03         Qualifying Special-Purpose Entities and         7/31/03
                Isolation of Transferred Assets--an
                amendment of FASB Statement No. 140

2/20/03         Accounting for Real Estate Time-Sharing         4/30/03
                Transactions--an amendment of FASB
                Statements No. 66 and 67

7/10/01         Accounting in Interim and Annual Financial     11/15/01
                Statements for Certain Cost and Activities
                Related to Property, Plant, and Equipment
                --an amendment of APB Opinions No. 20 and
                28 and FASB Statements No. 51 and 67 and
                a rescission of FASB Statement No. 73

10/27/00        Proposed Amendment to FASB Concepts             3/31/01
                Statement No. 6 to Revise the Definition
                of Liabilities, an Amendment of FASB
                Concepts Statement No. 6

10/27/00        Accounting for Financial Instruments with       3/31/01
                Characteristics of Liabilities, Equity, or
                Both

12/14/99        Reporting Financial Instrument and Certain      5/31/00
                Related Assets and Liabilities at Fair
                Value (preliminary views)

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

ACSEC (AICPA)

6/19/03         Proposed Statement of Position, Allowance       9/19/03
                for Credit Losses

3/14/03         Proposed Statement of Position, Accounting      5/14/03
                by Insurance Enterprises for Deferred
                Acquisition Costs on Internal Replacements
                Other Than Those Specifically Described in
                FASB Statement No. 97

2/20/03         Proposed Statement of Position, Accounting      4/30/03
                for Real Estate Time-Sharing Transactions

12/17/02        Proposed Statement of Position,                 3/31/03
                Clarification of the Scope of the Audit
                and Accounting Guide Audits of Investment
                Companies and Accounting by Parent
                Companies and Equity Method Investors for
                Investment in Investment Companies

6/29/01         Accounting for Certain Costs and               11/15/01
                Activities Related to Property, Plant, and
                Equipment

ASO (AICPA)

3/5/04 **       Proposed Statement of Position, Auditing      4/2/04 **
                the Statement of Social Insurance **

3/18/03         Proposed Statement on Auditing Standards,       5/30/03
                Communication of Internal Control Related
                Matters Noted in an Audit

3/18/03         Proposed Statements on Auditing Standard,        5/15/03
                and Statement on Standards for Attestation
                Engagements Related to Internal Control:
                Auditing an Entity's Internal Control Over
                Financial Reporting in Conjunction With
                the Financial Statement Audit; Amendment
                to Statement on Auditing Standards No.
                100, Interior Financial Information; and
                Reporting on an Entity's Internal Control
                over Financial Reporting *

4/1/03          Proposed Statement on Auditing Standards,       5/15/03
                Sarbanes-Oxley Omnibus Statement on
                Auditing Standards *

12/2/02         Proposed Statements on Auditing Standards:      4/30/03
                Amendment to Statement on Auditing
                Standards No. 95, Generally Accepted
                Auditing Standards; Audit Evidence; Audit
                Risk and Materiality in Conducting an
                Audit; Planning and Supervision;
                Understanding the Entity and Its
                Environment and Assessing the Risks of
                Material Misstatement; Performing Audit
                Procedures in Response to Assessed Risks
                and Evaluating the Audit Evidence
                Obtained; and Amendment to Statement on
                Auditing Standards No. 39, Audit Sampling

ARSC (AICPA)

12/11/03        Proposed Statement on Standards for             4/11/04
                Accounting and Review Services,
                Performance of Review Engagements

12/11/03        Proposed Statement on Standards for             4/11/04
                Accounting and Review Services, Standards
                for Accounting and Review Services

OTHER (AICPA)

5/30/03         Proposed Revisions to the AICPA Standards       8/8/03
                for Performing and Reporting on Peer
                Reviews

11/15/02        Proposed Tax Standards Interpretation 1-2,      4/30/03
                "Tax Planning," of Statement on Standards
                for Tax Services No. 1, Tax Return
                Positions

12/1/01         Proposed Statement on Responsibilities for      1/31/02
                Litigation Services No. 1

11/1/01         AICPA/NASBA Uniform Accountancy Act and        12/31/01
                Uniform Accountancy Act Rules

3/7/01          Statement on Standards for Continuing            8/1/01
                Professional Education Programs

SEC

3/11/04 **      First-Time Application of International      4/19/04 **
                Financial Reporting Standards; Release
                Nos.: 33-8397; 34-49403; International
                Series Release No. 1274 (See Correction
                3/18/04; Release Nos. 33-8397A; 34-49403A;
                International Series Release No. 1274A)

6/26/02         Framework for Enhancing the Quality of           9/3/02
                Financial Information Through Improvement
                of Oversight of the Auditing Recess;
                Release Nos. 33-8109; 34-46120; 35-27543;
                IA-2039; IC-25624

5/10/02         Disclosure in Management's Discussion and       7/19/02
                Analysis about the Application of Critical
                Accounting Policies (Release Nos. 33-8098;
                34-45907)

4/12/02         Form 8-K Disclosure of Certain Management       6/24/02
                Transactions; Release No. 33-8090

4/12/02         Form 8-K Disclosure of Certain Management       6/24/02
                Transactions; Release No. 34-45742

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

1/21/00         Supplementary Financial Information             4/17/00

GASB

1/30/04         (Revised Exposure Draft) Accounting and         4/30/04
                Financial Reporting by Employers for
                Postemployment Benefits Other Than
                Pensions

12/31/03        Proposed Technical Bulletin No. 2003-b,          3/2/04
                Tobacco Settlement Recognition and
                Financial Reporting Entity Issues

8/29/03         Economic Condition Reporting: The              11/28/83
                Statistical Section--an amendment of NCGA
                Statement 1

2/14/03         Financial Reporting for Postemployment          4/30/03
                Benefit Plans Other Than Pension Plans

IFAC

1/20/04         Revenue from Non-Exchange Transactions          6/30/04
                (Including Taxes and Transfers)

1/20/04         Accounting for Social Policies of               6/30/04
                Governments

12/23/03        ISA 600 (Revised), "The Work of Related         3/31/04
                Auditors and Other Auditors in the Audit
                of Group Financial Statements" and IAPS,
                "The Audit of Group Financial Statements"

12/22/03        ISA700 (Revised), "The Independent              3/31/04
                Auditor's Report on a Complete Set of
                General Purpose Financial Statements"
                ISA 200, "Objective and General Principles
                Governing an Audit of Financial
                Statements" Amendment to ISA 210, "Terms
                of Audit Engagements" Conforming
                Amendments

11/11/03        Revision to Code of Ethics for                  2/15/04
                Professional Accountants

10/30/03        Continuing Professional Development: A         12/31/03
                Program of Lifelong Learning and
                Continuing Development of Professional
                Competence

9/16/03         ED 23: Impairment of Assets--Proposed           1/31/04
                International Public Sector Accounting
                Standard

7/18/03         Proposed Revised Code of Ethics for            11/30/03
                Professional Accountants

5/27/03         Proposed ISQC 1 "Quality Control for            8/31/03
                Audit, Assurance and Related Services
                Practices" and Proposed Revised ISA 220
                "Quality Control for Audit Engagements"

4/28/03         Subject Areas: Revision to the                  7/31/03
                requirements proposed in Content of
                Professional Education Programs

4/6/03          Assurance Engagements--Proposed                 6/30/03
                "International Framework for Assurance
                Engagements," Proposed ISAE 2000
                "Assurance Engagements on Subject Matters
                Other Than Historical Financial
                Information" and Proposed Withdrawal of
                ISA 120 "Framework of International
                Standards on Auditing," To Replace
                International Standard on Assurance
                Engagements 100 "Assurance Engagements"

4/4/03          The Special Considerations in the Audit         6/30/03
                of Small Entities, Proposed Amendments
                to International Auditing Practice
                Statement 1005

11/15/02        Terms of Reference, Preface to the              2/28/03
                International Standards on Quality
                Control, Auditing, Assurance and Related
                Services, and Operations Policy No. 1--
                Bold Type Lettering

10/24/02        Audit Risk: Proposed International              3/31/03
                Standards on Auditing and Proposed
                Amendment to ISA 200, Objective and
                Principles Governing an Audit of Financial
                Statements

10/15/02        Reporting on Compliance with International      1/15/03
                Financial Reporting Standards

6/23/03         Review of Interim Financial Information         9/15/03
                Performed by the Auditor of the Entity

6/30/02         Assessment of Professional Competence          12/31/02
                (Proposed International Education Standard
                for Professional Accountants)

6/30/02         Content of Professional Education Programs     12/31/02
                (Proposed International Education Standard
                for Professional Accountants)

6/30/02         Experience Requirements (Proposed              12/31/02
                International Education Standard for
                Professional Accountants)

6/30/02         Professional Skills and General Education      12/31/02
                (Proposed International Education Standard
                for Professional Accountants)

6/30/02         Professional Values and Ethics (Proposed       12/31/02
                International Education Standard For
                Professional Accountants)

5/02            Guiding Principles for International            9/30/02
                Education Statements

6/02            Introduction to International Education        12/31/02
                Standards for Professional Accountants

6/02            Entry Requirements (Proposed International     12/31/02
                Education Standard for Professional
                Accountants)

6/02            Continuing Professional Education and          12/31/02
                Development (Proposed International
                Education Guideline for Professional
                Accountants)

FASAB

3/12/04 **      Presentation of Significant Assumptions      5/17/04 **
                for the Statement of Social Insurance
                Amending SFFAS 25

10/16/03        Identifying and Reporting no Earmarked         12/17/03
                Funds

8/20/03         Heritage Assets and Stewardship Land:          11/10/03
                Reclassification from Required
                Supplementary Stewardship Information

4/21/03         Accounting for Fiduciary Activities             7/31/03

PCAOB

At the present time PCAOB exposure drafts have very short comment
periods. A list of outstanding PCAOB exposure drafts is available
online at www.pcaobus.org.

* This exposure draft has been submitted to the Public Company
Accounting Oversight Board for its consideration as auditing and
attestation standards.

** New additions.