Audit team assigned to audit a local non-profit homeless shelter organization. The clients balance sheet included a significant debt classified as long-term. Audit procedures revealed that the debt was due in less than one year, necessitating a reclassification to the current liabilities section on the balance sheet. The client requested that the debt remain classified as long-term because the organization intended to refinance the debt on a long-term basis.

If you were serving on this audit team, what questions would you pose to the client? What information would you need to resolve this matter?