External Audit Procedures (cont'd) Debt and Equity Securities (cont'd) – A security is impaired if the fair value of that security is less than its am
{"Image DocumentName": "External Audit Procedures (cont\u2019d)", "Image ImageDescription": "Debt and Equity Securities (cont\u2019d) A security is impaired if the fair value of that security is less than its amortized cost basis. The following relevant information should be documented: The magnitude of the impairment (i.e. the unrealized loss as a percentage of the adjusted cost basis). The duration of the impairment (i.e. the number of consecutive months that the fair value of the security has been less than its adjusted cost basis). The original (i.e. purchase date) ratings of the investment security (i.e. Moody\u2019s, S&P, Fitch). The current ratings of the investment security. Qualitative information regarding the financial condition of the issuer.", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}