Exposure drafts outstanding.

EXPOSURE DRAFTS OUTSTANDING

(This list was complied as of August 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
7/14/05    Accounting for Uncertain Tax Positions-an            9/12/05
           interpretation of FASB Statement No. 109

6/30/05    Business Combinations-a replacement of FASB         10/28/05
           Statement No. 141

6/30/05    Consolidated Financial Statements, Including        10/28/05
           Accounting and Reporting of Noncontrolling
           Interests in Subsidiaries-a replacement of ARB
           No. 51

4/28/05    The Hierarchy of Generally Accepted Accounting       6/27/05
           Principles

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

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

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

AcSEC(AICPA)

11/29/04   Proposed Statement ofPosition, 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)

8/15/05    Proposed Statement on Auditing Standards:           10/15/05
           Communication of Internal Control Related Matters
           Noted in an Audit-to supersede Statement on
           Auditing Standards No. 60, Communication of
           Internal Control Related Matters Noted in an
           Audit

6/15/05    Proposed Statement on Auditing Standards:            8/15/05
           Amendment to "Due Professional Care in the
           Performance of Work" of Statement on Auditing
           Standards No. 1, Codification of Auditing
           Standards and Procedures; 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

5/9/05     Proposed Statement on Auditing Standards:            6/27/05
           Amendment to Statement on Auditing Standards
           No. 69, The Meaning of Present Fairly in
           Conformity with Generally Accepted Accounting
           Principles, for Nongovernmental Entities

3/2/05     Proposed Statement on Auditing Standards:            5/15/05
           Defining Professional Requirements in Statements
           on Auditing Standards and Proposed Statement
           on Standards for Attestation Engagements:
           Defining Professional Requirements in Statements
           on Standards for Attestation Engagements

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 *

OTHER (AICPA)

3/30/05    Proposed Statement on Standards for Valuation        9/30/05
           Services: Valuation of a Business, Business
           Ownership Interest, Security, or Intangible Asset

6/17/05    Omnibus Proposal of Professional Ethics Division     8/16/05
           Interpretations and Rulings

4/18/05    Proposal of Professional Ethics Division             6/17/05
           Interpretations and Rulings

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

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

3/25/05    Accounting and Financial Reporting for Pollution     6/24/05
           Remediation Obligations (preliminary views)

IFAC

4/15/05    Proposed International Education Standard for        7/15/05
           Professional Accountants, "Competence
           Requirements for Audit Professionals"

3/22/05    Proposed International Standard on Auditing 600      7/31/05
           (Revised), "The Audit of Group Financial
           Statements"

3/22/05    Proposed ISA 260 (Revised), "The Auditor's           7/31/05
           Communication with Those Charged with
           Governance"

3/22/05    Proposed ISA 705 and ISA 706, "Modifications         7/31/05
           to the Opinion in the Independent Auditor's
           Report and Emphasis of Matter Paragraphs and
           Other Matters Paragraphs in the Independent
           Auditor's Report"

2/4/05     Proposed International Public Sector Accounting      6/15/05
           Standard, "Financial Reporting Under the Cash
           Basis of Accounting-Disclosure Requirements for
           Recipients of External Assistance"

12/20/04   Proposed ISA 320 (Revised), "Materiality in the      4/30/05
           Identification and Evaluation of Misstatements"

12/20/04   Proposed ISA 540 (Revised), "Auditing                4/30/05
           Accounting Estimates and Related Disclosures
           (Other than Those Involving Fair Value
           Measurements and Disclosures)"

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

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           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 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 ofEthics for Professional           2/15/04
           Accountants

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

7/22/05    Technical Agenda Options                              9/9/05

6/27/05    Accounting for Fiduciary Activities (Revised)        8/30/05

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.

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);
        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, 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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