Exposure drafts outstanding.

(This list was compiled as of March 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 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)

11/29/04   Proposed Statement of Position, Accounting by         1/7/05
           Insurance Enterprises for Deferred Acquisition
           Costs on Internal Replacements
6/19/03    Proposed Statement of Position, Allowance for        9/19/03
           Credit Losses
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)

1/12/05    Proposed Statement on Auditing Standards:            5/15/05
           Audit Documentation
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)

9/20/04    XBRL US Financial Reporting Taxonomy                11/19/04
           Framework
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
11/1/01    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 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            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 Accounting        5/23/00
           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 Financial and
           Other Assurance and Related Services Engagements"
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
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

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. (No new additions this month.)

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

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, PO. Box 5116, Norwalk, CT 06856-5116); also available online at www.fasb.org

GASB--Govermnental 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); 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. Government Accountability Office (Government Auditing Standards Comments, Marcia B. Buchanan, US. 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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