Exposure drafts outstanding.

(This list was compiled as of September 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 an-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--on 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: Purpose and       5/24/99
          Policy

AcSEC (AICPA)

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

8/9/04#   Omnibus Proposal of Professional Ethics             10/8/04#
          Division Interpretations and Rulings#

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
          Planning," of Statement on Standards for Tax
          Services No. 1, Tax Return Positions

11/l/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 Financial    4/19/04
          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 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 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 Quality   10/15/04
          Control, Auditing, Assurance and Related
          Services--IAASB Due Process and Working Procedures

1/20/04   Revenue from Non-Exchange Transactions               6/30/04
          (Including 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
          Accountants                                          2/15/04

10/30/03  Continuing Professional Development:                12/31/03
          A 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 Professional    11/30/03
          Accountants

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

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