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When should the functional currency of a local entity (that is part of a MNC) be different from the local currency?

Financial Risk IFRS Foreign Exchange Management US GAAP CIMA
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Question added by Shyam Sundar Krishnamoorthy , Senior Financial Analyst , Pentair Valves & Controls
Date Posted: 2015/08/16
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Aqid Hussain
by Aqid Hussain , Internee , State Bank of Pakistan - Banking Services Corporation

When the parent of the firm is located in the country other than the country in which the firm concerned is  located. 

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