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Exposure drafts outstanding.

Exposure Drafts Outstanding

(This list was compiled as of February 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

Issue Comment
Date Title or Description Deadline


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


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

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

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


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 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


9/20/04 XBRL US Financial Reporting Taxonomy 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


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 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 Financial 9/3/02
 Information Through Improvement of Oversight
 of the Auditing Process; Release Nos. 33-8109;

5/10/02 Disclosure in Management's Discussion and 7/19/02
 Analysis about the Application of Critical
 Accounting Policies (Release Nos. 33-8098;

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

1/21/00 Supplementary Financial Information 4/17/00


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

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


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

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

11/11/03 Revision to Code of Ethics for Professional 2/15/04

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

6/24/03 Proposed International Standard on Auditing: 9/30/03
 "Review of Interim Financial Information
 Performed by the Auditor of the Entity"


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


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


At the present time PCAOB exposure drafts have very short comment
periods. A list of outstanding PCAOB exposure drafts is available
online at

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.

Note: New additions indicated with #.


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

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

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 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

IFAC--International Federation of Accountants (International Federation of Accountants, 545 Fifth Avenue, 14th Floor, New York, NY 10017); also available online at

SEC--Securities and Exchange Commission (Securities and Exchange Commission, 450 5th Street, N.W., Washington, DC 20549); also available online at

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

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);

PCAOB--Public Company Accounting Oversight Board, 1666 K Street, N.W., Washington, DC 20006-2803;


The Technical Information Service answers inquiries about specific audit or accounting problems. Call toll-flee 888-777-7077 or e-mail query to This service is free to AICPA members.
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Publication:Journal of Accountancy
Date:Mar 1, 2005
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