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The issuer identified certain impairment indicators and performed an assessment of intangible assets for impairment at year-end. The firm did not perform sufficient substantive procedures to evaluate the issuer's conclusions regarding these potential indicators of impairment as its procedures were limited to inquiry of management reading a memorandum and other information prepared by the issuer reviewing unsigned memoranda of understanding related to the intangible assets and obtaining legal confirmations regarding any potential litigation related to the intangible assets. Further although the firm identified a potential indicator that was excluded from the issuer's assessment the firm inappropriately concluded that it was not applicable and did not evaluate how the issuer considered it in its assessment. (AS 2301.08 and .11; AS 2810.03)