Exposure drafts outstanding.

(This list was compiled as of August 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-inclusive but is intended to present the exposure drafts of particular interest to professional accountants.)

Issue                                                           Comment
Date                     Title or Description                  Deadline

FASB

6/23/04   Fair Value Measurements                                9/7/04

6/17/04   Accounting for Conditional Asset Retirement            8/l/04
          Obligations--an interpretation of FASB Statement
          No. 143

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. 43,          4/13/04
          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 amendment of       4/13/04
          APB Opinion No. 29

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

6/10/03   Qualifying Special--Purpose Entities and Isolation    7/31/03
          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

10/27/00  Proposed Amendment to FASB Concepts Statement         3/31/01
          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 Instruments and Certain           5/31/00
          Related Assets and Liabilities at Fair Value
          (preliminary views)

2/23/99   Consolidated Financial Statements:                    5/24/99
          Purpose 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 by         5/14/03
          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 for        4/30/03
          Real Estate Time-Sharing Transactions

12/17/02  Proposed Statement of Position, Clarification of      3/31/03
          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

ASB (AICPA)

3/5/04    Proposed Statement of Position, Auditing the           4/2/04
          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 Standards and         5/15/03
          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, Interim 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

OTHER (AICPA)

7/15/04#  Forensic Services, Audits, and Corporate            10/15/04#
          Governance: Bridging the Gap#

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

11/15/02  Proposed Tax Standards Interpretation 1-2, "Tax       4/30/03
          Planting," 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 Professional     8/1/01
          Education Programs

SEC

4/15/04   Use of Form S-8 and Form 8-K by Shell Companies;       6/7/04
          Release No. 34-49566

3/11/04   First-Time Application of International               4/19/04
          Financial Reporting Standards; Release No.
          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 Financial       9/3/02
          Information Through Improvement of Oversight of
          the Auditing Process; Release Nos. 33-8109;
          34-46120; 35-27543; IA-2039; IC-25624

5/10/02   Disclosure in Management's Discussion and Analysis    7/19/02
          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 Accounting         5/23/00
          Standards

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

GASB

6/30/04   Net Assets Restricted by Enabling Legislation--an     8/31/04
          amendment of GASB Statements No. 34 and No. 44

6/23/04   Communication Methods                                 9/30/04

IFAC

7/14/04#  Preface to the International Standards on           10/15/04#
          Quality Control, Auditing, Assurance and Related
          Services--IAASB Due Process and Working
          Procedures#

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

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

12/23/03  ISA 600 (Revised), "The Work of Related Auditors      3/31/04
          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 Auditor's          3/31/04
          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 Professional           2/15/04
          Accountants

10/30/03  Continuing Professional Development: A Program of    12/31/03
          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

8/11/03   Proposed Revised International Standard on           11/15/03
          Auditing 240, "The Auditor's Responsibility to
          Consider Fraud in an Audit of Financial
          Statements"

8/11/03   Proposed Revised International Standard on           11/15/03
          Auditing 300, "Planning the Audit"

7/30/03   Proposed Statements of Membership Obligations        11/30/03

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

6/24/03   Proposed International Standard on Auditing:          9/30/03
          "Review of Interim Financial Information

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

4/6/03    Assurance Engagements--Proposed "International        6/30/03
          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"

1/4/03    The Special Considerations in the Audit of Small      6/30/03
          Entities, Proposed Amendments to International
          Auditing Practice Statement 1005

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

10/24/02  Audit Risk: Proposed International Standards on       3/31/03
          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 Performed     9/15/03
          by the Auditor of the Entity

FASAB

7/21/04#  Deferral of the Effective Date of Reclassification   8/20/04#
          of the Statement of Social Insurance: Amending
          SFFAS Nos. 25 and 26#

4/26/04   Inter-Entity Cost Implementation Amending             7/31/04
          SFFAS 4, "Managerial Cost Accounting Standards
          and Concepts"

10/16/03  Identifying and Reporting on Earmarked Funds         12/17/03

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 appear in bold type.

Note: New additions appear indicated with #.

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). 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); ago 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

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