Issue Auditing fair value accounting estimates in impairment test in the current market environment. Importance: Effect these estimates have in financial statements and investors decisions.

• Describe the issue in detail, and explain why it is important.

• Research the issue carefully, using standard, professional source material. Write up the results of your research, and formulate and support your conclusions. This should include a summary of recent changes in standards, including ‌‌‌‍‍‌‍‌‌‍‍‌‍‍‌‌‌‍‍ but not limited to Auditing Standard (AS) 2501, Auditing Accounting Estimates, Including Fair Value Measurements, that provide better guidance on how to better audit these areas.

• The paper should have these main sections:

o The issue and why it is important

o Research findings: Detailed summary of your research, including references to source materials when appropriate.

o Conclusions, including a summary of support for those conclusions.