You have identified the following five risks for your audit client:

1. Overstatement of assets, due to the possibility that some of the entitys recorded assets have not been written down to their fair value.
2. Understatement of liabilities, due to the possibility that the entity has not recorded all of its liabilities.
3. Overstatement of revenues, due to the possibility that revenue relating to the next period has been incorrectly recorded in the current period.
4. Overstatement of revenues, due to the possibility that recorded revenue transactions are not genuine.
5. Understatement of expenses, due to the possibility that the entity has not recorded all of its expense transactions.

Using ASA 315, determine the key management assertion at risk for each item listed above.