Assertions about Classes of Transactions

Occurrence

Transactions and events that have been recorded or disclosed have occurred, and such transactions and events pertain to the entity

Completeness

All transactions and events (disclosures) that should have been recorded (included in the financial statements) have been recorded (included)

Authorization

All transactions and events have been properly authorized

Accuracy

Amounts and other data relating to recorded transactions and events have been recorded appropriately, and related disclosures have been appropriately measured and described

Cutoff

Transactions and events have been recorded in the correct accounting period

Classification

Transactions and events have been recorded in the proper accounts

Presentation

Transactions and events are appropriately aggregated or disaggregated and clearly described, and related disclosures are relevant and understandable in the context of the requirements of the applicable financial reporting framework