IASB 16 requires that depreciation be reviewed:

Question

Quizplus · Accepted Answer

IASB 16 requires that depreciation be reviewed at least annually. This is to ensure that the carrying amount of the asset is not overstated in the financial statements and that the depreciation charge accurately reflects the asset's value and pattern of use over time. Reviewing depreciation annually is also important for maintaining consistency in the application of accounting policies and for identifying changes in the patterns of use of the asset that may require a revision of the depreciation method or estimate of useful life.

IASB 16 Requires That Depreciation Be Reviewed