Qs19 Francis bpp rev kit

Is this the question with the non-adjusting subsequent event - a fire? This is not a question concerning impairments or revaluations -it was a subsequent event that affected just the one asset in the class and that same event is unlikely to affect the other assets in that class If the event were not a fire but was something else - say, an earthquake - then two issues immediately spring to mind: - surely the group must have known that their property was located on or near an earthquake area and - that being the case, surely there should be adequate insurance to mitigate the damaging effects of earthquakes In terms of your proposal, therefore, I suppose that, for a one-off occurrence such as a fire, revaluation assessment of other assets in the same class is not really appropriate and, for a natural disaster event such as an earthquake, you would wish to confirm the adequacy of the insurance cover but again a revaluation assessment is not really appropriate OK?