Exposure drafts outstanding.

(This list was compiled as of November 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.)

Exposure Drafts Outstanding

Issue                                                          Comment
Date       Title or Description                               Deadline

FASB

9/30/05    Selected Issues Relating to Assets and               1/3/06
           Liabilities with Uncertainties

9/30/05    Earnings per Share--an amendment of FASB           11/30/05
           Statement No. 128 (revision of Exposure Draft
           issued 12/15/03)

8/11/05    Accounting for Certain Hybrid Financial            10/10/05
           Instruments--an amendment of FASB Statements
           No. 133 and 140

8/11/05    Accounting for Servicing of Financial Assets--an   10/10/05
           amendment of FASB Statement No. 140

8/11/05    Accounting for Transfers of Financial Assets--an   10/10/05
           amendment of FASB Statement No. 140

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

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       3/31/03
           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)

9/1/05     Proposed Statement on Auditing Standards:          10/31/05
           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 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 *

OTHER (AICPA)

10/18/05   Proposed Enhanced Business Reporting Framework#    12/13/05

9/15/05    Proposal of Professional Ethics Division:          12/16/05
           Proposed Revision to "Other Considerations" in
           Interpretation 101-1, Interpretation of Rule
           101, under Rule 101, and Proposed Conceptual
           Framework for AICPA Independence Standards

9/15/05    Omnibus Proposal of Professional Ethics Division   12/16/05
           Interpretations and Rulings

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

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

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

9/30/05    Sales and Pledges of Receivables and Future        12/30/05
           Revenues

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

IFAC

10/11/05   Presentation of Budget Information in Financial     2/10/06
           Statements#

10/11/05   Disclosure of Financial Information about the       2/10/06
           General Government Sector#

10/31/05   International Standard on Auditing, ISA 240         2/28/06
           (Redrafted), "The Auditor's Responsibility to
           Consider Fraud in an Audit of Financial
           Statements"#

10/31/05   ISA 300 (Redrafted), "Planning an Audit of          2/28/06
           Financial Statements"

10/31/05   ISA 315 (Redrafted), "Understanding the Entity      2/28/06
           and Its Environment and Assessing the Risks of
           Material Misstatement"#

10/31/05   ISA 330 (Redrafted), "The Auditor's Procedures      2/28/06
           in Response to Assessed Risks"#

9/23/05    Improvements to International Public Sector         1/31/06
           Accounting Standards

9/23/05    Equal Authority of Paragraphs in IPSASs             1/31/06

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

3/22/05    Proposed International Standard on Auditing         7/31/05
           600 (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 to     7/31/05
           the Opinion in the Independent Auditor's Report
           and Emphasis of Matter Paragraphs and Other
           Matters Paragraphs in the Independent Auditors
           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 Accounting    4/30/05
           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 (EMA)

10/5/04    Proposed Revised Code of Ethics for Professional   11/30/04
           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" and        1/31/05
           amendments to ISA 330, "The Auditors 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,
           "Terns 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 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

10/27/05   Consolidated Financial Report of the United          3/1/06
           States Government Requirements: Implementing
           Statement of Federal Financial Accounting
           Concepts 4 "Intended Audience and Qualitative
           Characteristics for the Consolidated Financial
           Report of the United States Government"#

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.

Note: New additions indicated with #.

* 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]

AICPA TECHNICAL HOTLINE

The Technical Information Service answers inquiries about specific audit or accounting problems. Call toll-free 888-777-7077 or e-mail query to [e-mail]. This service is flee to AICPA members.