PEEC Exposure Drafts

The Professional Ethics Executive Committee (PEEC) is responsible for promulgating new ethics interpretations and rulings, and for monitoring those standards and making revisions as needed. The PEEC utilizes a process that includes deliberation in meetings open to the public, public exposure of proposed standards, and a formal vote. Exposure Drafts are issued by the AICPA to invite public comment before a final pronouncement is issued. The public exposure time varies depending on the complexity of the issue and the circumstances surrounding the need for a new standard. Once adopted, the standard becomes effective the last day of the month in which the standard is published in the Journal of Accountancy, unless stated otherwise.

Select the title below to view the exposure draft or related document.

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Title	Comment Letters	Final Guidance	Basis & Related Documents
November 30, 2011 Omnibus Exposure Draft -Proposed new Interpretation No. 505-4, Proposed new Interpretation No. 505-5, and Proposed deletion of ethics ruling number 134 under Rule 505. Comment Due Date: January 30, 2012	Comment Letters
September 23, 2011 Omnibus Exposure Draft - Proposed New and Revised Interpretations and Proposed Deletion of Ethics Rulings.Comment Due Date: November 23, 2011	Comment Letters	Proposals Approved In January 2012
Executive Summary \| April 4, 2011 Omnibus Exposure Draft -Proposed new Interpretation No. 501-9, Proposed new Interpretation No. 501-10, Proposed new Interpretation 501-11 and Proposed new Definition Comment Due Date: June 5, 2011	Comment Letters	Proposals Approved in August 2011
Executive Summary \| February 28, 2011 Omnibus Exposure Draft - Proposed New Interpretations under Rule 101, Proposed New Definition of Confidential Client Information, Proposed Revision to Applicability, Proposed Revision to Conceptual Framework for AICPA Independence Standards, Proposed Revision to Interpretations under Rule 101, Proposed Revision to an Ethics Ruling under Rule 301, Proposed Revision to an Ethics Ruling under Rule 101, Proposed Deletions of Ethic Rulings under Rules 101, 203, 501, 502 and 505. Comment Due Date: May 31, 2011	Comment Letters	Proposals Approved In August 2011	NonAttest Services - Proposed Revisions Clarify Independence Requirements Nonauthoritative table that provides examples of confidential client information
Executive Summary \| September 4, 2009 Omnibus Exposure Draft - Proposed Revisions to Interpretations 101-1 and 101-15, Proposed Revisions to Ethics Ruling Numbers 107 Under Rule 101 and 2 Under Rule 301 and Proposed New Definition of Confidential Client Information Comment Due Date: November 6, 2009	Comment Letters	Immediate Family Member and Related Guidance Confidential Client Information Re-exposed on February 28, 2011	Immediate Family Member and Related Guidance Basis for Conclusion Document
Executive Summary \| December 3, 2007 Exposure Draft - Proposed Interpretation 501-8, Failure to Follow Requirements of Governmental Bodies, Commissions, or Other Regulatory Agencies on Indemnification and Limitation of Liability Agreements with a Client Comment Due Date: February 3, 2008	Comment Letters	Adopted Interpretation Effective July 31, 2008	Not Developed
Executive Summary \| August 13, 2007 Exposure Draft - Proposed Interpretation 101-17 - Networks and Network Firms and Proposed New Definitions of Network and Network Firms and Proposed Revised Definition – Firm Comment Due Date: November 13, 2007	Comment Letters	Final Standard Implementation Guidance
Executive Summary \| May 15, 2007 – Exposure Draft – Proposed Interpretation 102-7, Other Considerations: Meeting the Objectives of the Fundamental Principles, and Proposed Framework for Meeting the Objectives of the Fundamental Principles Comment Due Date: August 15, 2007	Comment Letters	Non-Authoritative Tool Approved in Lieu of Authoritative Framework	Not Developed
Executive Summary \| September 8, 2006 - Omnibus Exposure Draft - Proposed Interpretations on Indemnification, Limitation of Liability and ADR Clauses in Engagement Letters (proposed Interpretation 101-16), Forensic Accounting Services and Tax Compliance Services Comment Due Date: November 8, 2006 (Forensic & Tax) Comment Due Date: December 8, 2006 (Remaining Items)	Complete Comment Letter Summary Comment Letters Comment Letters For Interpretation 101-16	Adopted Forensic Accounting and Tax Compliance Services Guidance - Effective February 28, 2007 except as otherwise stated. Remaining portion of exposure draft not adopted. Exposure draft no longer outstanding.	Non Attest Services Basis for Conclusion
Executive Summary \| September 15, 2005- Proposed Revision to “Other Considerations” in Interpretation 101-1 and Proposed Conceptual Framework Comment Due Date: December 16, 2005	Comment Letters	Conceptual Framework Revision to the "Other Considerations" section of Interpretation 101-1 Effective April 30, 2007	Not Developed

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