SAS 92 Section 332 Auditing Derivative Instruments, Hedging Activities, and Investments in Securities

This section provides guidance to auditors in planning and performing
auditing procedures for assertions about derivative instruments, hedging
activities, and investments in securities2 that are made in an entity’s financial
statements.3 Those assertions4 are classified according to three broad categories
that are discussed in section 326, Audit Evidence, paragraphs .14–.19,
as follows:
a. Assertions about classes of transactions and events for the period under
audit:
i. Occurrence. Transactions and events that have been recorded
have occurred and pertain to the entity.
ii. Completeness. All transactions and events that should have been
recorded have been recorded.
iii. Accuracy. Amounts and other data relating to recorded transactions
and events have been recorded appropriately.
iv. Cutoff. Transactions and events have been recorded in the correct
accounting period.
v. Classification. Transactions and events have been recorded in the
proper accounts.