Question: Gold Ltd classifies its exploration and evaluation assets as intangible assets. A new accountant has just been employed and has suggested that Gold Ltd should

Gold Ltd classifies its exploration and evaluation assets as intangible assets. A new accountant has just been employed and has suggested that Gold Ltd should change its accounting policy for exploration and evaluation assets from its existing cost model to the fair value model under AASB 138/IAS 38 because it would provide more relevant information.

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What might prevent Gold Ltd from being able to make this change in accounting policy?

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