AUS.company has a foreign subsidiary, S, that is not located in a highly inflationary economy. Based on the international Financial Reporting Standards (IFRS). if's operations are with significant degree of autonomy.e. self contained which currency should be its functional currency and how to report the restatement gains or losses when the financial statements of S are restated from its local currency to US dollars? (Hint: For foreign currency translation, how does IFRS differ from GMP A Functional currency is Ss local currency and the restatement gains or losses should be deferred in other comprehensive income. B. Functional currency is U.S. dollar and the restatement gains or losses should be included in income from continuing operations C. Punctional currency is US dollar and the restatement gains or losses should be deferred in other comprehensive income D. Functional currency is Ss local currency and the restatement gains or losses should be included in income from continuing operations