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CAQ issues discussion document on monitoring inflation

  • CAQ (US Center for Audit Quality) Image

Mar 09, 2018

The Center for Audit Quality (CAQ) and its International Practices Task Force have issued a document for discussion, “Monitoring Inflation in Certain Countries,” which provides “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 in the discussion document “may be helpful to management in applying ASC 830 [Foreign Currency Matters], in conjunction with its internal controls over financial reporting to reach a conclusion on whether a country’s economy should be considered highly-inflationary.”

For more information, including access to the discussion document, see the press release on the CAQ’s Web site.

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