Hyperinflationary economies - updated information on Turkey

  • CAQ (US Center for Audit Quality) (light green) Image

26 Apr 2022

The International Practices Task Force (IPTF) of the Centre for Audit Quality (CAQ) that monitors the status of 'highly inflationary' countries has published an update on the situation in Turkey.

The addendum to the list, dated 16 March 2022, reflects significant changes to the inflation rates in Turkey since the latest overall list was published on 6 November 2021.

Please also note our recent iGAAP in Focus addressing issues that arise in connection with the inflationary situation in Turkey and providing guidance on how to apply IAS 29 Financial Reporting in Hyperinflationary Economies in that context.

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