Exposure drafts outstanding.

Exposure Drafts Outstanding

(This list was compiled as of January 1, 2005. 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    8/1/04
           Obligations--an interpretation of FASB
           Statement No. 143

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

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        7/31/03
           Isolation of Transferred Assets--an
           amendment  of FASB Statement No. 140

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

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

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

ACSEC (AICPA)

11/29/04   Proposed Statement of Position, Accounting     1/7/05
           by Insurance Enterprises for Deferred
           Acquisition Costs on Internal Replacements

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

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

ASB (AICPA)

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      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,
           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)

9/20/04    XBRL US Financial Reporting Taxonomy           11/19/04
           Framework

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

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

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

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 Process; 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

12/10/04   Accounting for Termination Benefits            3/11/05

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

IFAC

11/9/04    International Guidelines on Environmental      2/28/05
           Management Accounting (EMA)

10/5/04    Proposed Revised Code of Ethics for            11/30/04
           Professional Accountants

9/23/04    Policy Statement, "Clarifying Professional     12/31/04
           Requirements in International Standards" and
           Consultation Paper, "Improving the Clarity
           and Structure of IAASB Standards and Related
           Considerations for Practice Statements"

9/23/04    ISA 230 (Revised), "Audit Documentation"       1/31/05
           and amendments to ISA 330, "The Auditor's
           Procedures in Response to Assessed Risks"
           and ISQC 1, "Quality Control for Firms that
           Perform Audits and Reviews of Historical
           Other Assurance and Related Services
           Engagements"

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         6/30/04
           (Including Taxes and Transfers)

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

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 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

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

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

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

GAO

10/6/04    Guidance on GAGAS Requirements for             11/30/04
           Continuing Professional Education

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.

New additions appear in bold type.

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