FASB PROPOSAL ON ACCOUNTING FOR UNCERTAIN TAX POSITIONS; CONFERENCE CALL WEDNESDAY, SEPTEMBER 7 AT 2:00 P.M. EDT

©2005 Investment Company Institute. All rights reserved. Information may be abridged and therefore incomplete. Communications from the Institute do not constitute, and should not be considered a substitute for, legal advice. [19130] August 31, 2005 TO: ACCOUNTING/TREASURERS COMMITTEE No. 13-05 TAX COMMITTEE No. 28-05 RE: FASB PROPOSAL ON ACCOUNTING FOR UNCERTAIN TAX POSITIONS; CONFERENCE CALL WEDNESDAY, SEPTEMBER 7 AT 2:00 P.M. EDT A conference call has been scheduled for Wednesday, September 7th at 2:00 p.m. EDT to follow-up on the committees’ call of August 11, 20051 regarding a proposed interpretation recently issued by the Financial Accounting Standards Board (“FASB”) entitled Accounting for Uncertain Tax Positions.2 During the upcoming call, we will discuss the draft Institute letter on the FASB proposal, which we will send to you shortly for review. The dial-in number for the call is 800-619-7489 and the passcode is 61217. If you would like to participate on the call, please notify us by faxing the attached response form to Ezella Wynn at 202-326-5841 or sending an e-mail to ewynn@ici.org. If you cannot participate on the call, please provide any comments you may have on the Exposure Draft to Keith Lawson (lawson@ici.org or 202-326-5832) and Greg Smith (smith@ici.org or 202-326-5851). Comments on the FASB proposal are due no later than Monday, September 12th. Lisa Robinson Associate Counsel Attachment (in .pdf format) 1 See Institute Memorandum (19070) to Accounting/Treasurers Committee No. 11-05 and Tax Committee No. 26-05, dated August 5, 2005. 2 Proposed Interpretation, Accounting for Uncertain Tax Positions, (July 14, 2005) (the “Exposure Draft”). The Exposure Draft is available from the FASB website http://www.fasb.org/draft/index.shtml. The Exposure Draft is a proposed interpretation of FASB Statement No. 109, Accounting for Income Taxes.