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Monitoring Inflation in Certain Countries

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May 16, 2018

On May 16, 2018, the Center for Audit Quality (CAQ) released a document on certain inflation data that the CAQ SEC Regulations Committee and its International Practices Task Force (IPTF) periodically accumulates and discusses.

In an effort to facilitate greater consistency, the CAQ International Practices Task Force developed a framework for compiling inflation data to assist registrants in monitoring inflation statistics in connection with their determination of the inflationary status of countries in which they have operations. The information may be helpful to management in applying ASC 830, in conjunction with its internal controls over financial reporting to reach a conclusion on whether a country’s economy should be considered highly-inflationary.

Review the publication on the CAQ's website.

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