Jack Roth is the Financial Controller at Fischer Enterprises Limited $($Fischer Enterprises$).$

In May $2024,$ Jack became aware of impairment indications relating to land and buildings owned by Fischer Enterprises. An independent valuer has provided a measurement of the asset's recoverable amount in June $2024,$ which would result in an impairment loss of $$1\mathrm{.}2$ million being recognised.

Senior management of the company will share in a cash bonus, provided a $$2$ million profit after tax is achieved for the year ended $30$ June $2024.$ Jack is not entitled to this cash bonus as he is not considered senior management. Recognising the $$1\mathrm{.}2$ million impairment loss would prevent the $$2$ million profit after tax being achieved.

Jack knows that senior management are determined for the target profit to be achieved for the year ended $30$ June $2024$ as no cash bonus was paid last year due to Fischer Enterprises not achieving that year's target profit.

It is now $18$ June $2024.$ Jack has discussed the impairment issue with the CFO, who said to Jack that property prices frequently fluctuate. She recommended that it would be better to wait a few months to get an updated property valuation as she feels no impairment write down will be necessary. She said that, if property prices are still low after a few months, there will be more justification for recognising an impairment loss in the year ended $30$ June $2025.$ Jack Roth is a Chartered Accountant.

Question: Identify and explain two key fundamental principles of the International Code of Ethics for Professional Accountants at risk for Jack Roth if he does not recognise the impairment loss in the year ended $30$ June $2024$ financial statement. Support your answer with a specific reference from the relevant accounting standard.