Part B: (4 marks) Impairment under the revaluation model Below is a comment made by CFO of a company: Impairment is only relevant to assets carried under the cost model. For assets carried under the revaluation model, such as our land and buildings, increases and decreases in fair value dictate whether carrying amounts are adjusted up or down. We do not take the trouble of testing land and buildings for impairment." Required: Critically evaluate the above statement