Knowledge of the entitys financing activities includes understanding the entitys:

		debt structure.
		inventory management policies.
		location of property, plant and equipment.
		all of the above.

The Australian Securities Exchange (ASX):

		requires all listed companies to have an audit committee.
		requires the Top 300 companies to have an audit committee.
		recommends but does not require listed companies to have an audit committee.
		requires all listed companies with a capitalisation of more than $200 million to have an audit committee.

Extensive tests of details for an income statement account are least likely to be required when:

		analytical procedures reveal some unexpected fluctuations.
		detection risk is high.
		control risk is high.
		inherent risk is high.