The National Accounting Standards Board (NASB) has prepared and put for public comment draft financial reporting standard 32 “Financial Instruments: presentation”. The National Accounting Standards Board (NASB) has prepared and put for public comment draft financial reporting standard 32 “Financial Instruments: presentation”. The work on the draft FRS 32 has been carried out within the framework of the project concerning the development of national accounting standards set equivalent to IFRS. According to the Concept of national accounting standards approved by the NASB, the divergence of FRS from IFRS translation or introduction into FRS of additional disclosure requirements can take place in exceptional cases when specific IFRS rule is not in line with public interests or true and fair presentation of financial information, which is necessary for users of financial statements to make economic decisions. The number of such cases should approach zero due to active NASB participation in developing and amending IFRS. Draft FRS 32 is equivalent to IAS 32 “Financial Instruments: presentation”. The NASB invites experts and interested specialist to comment on the draft. Please send your comments before July 19, 2007 to This email address is being protected from spambots. You need JavaScript enabled to view it. or post them at the forum of the NOFA foundation website.