After an impairment loss is recognized, the adjusted carrying amount of the intangible asset shall be its new accounting basis. Under IFRS, which of the following statements about subsequent reversal of a previously recognized impairment loss is correct?

It is prohibited.

It is allowed when events and circumstances change.

It is allowed only if the intangible asset is recorded at fair value.

The recovery amount can exceed the carrying value at the time of the initial impairment.