The third member of the audit committee is Richard K. Davidson, a retired Chairman and CEO of Union P...
... middle of paper ...
...ed within business leadership. From there, the skills range from legal, energy consumption, and corporate governance. While they all claim on having expertise experience related to financial analysis, or financial expertise, there should be further research done to ensure they really do carry the necessary knowledge and experience. Each seem extremely capable of being on the board of director, with their extensive background and various accomplishments in addition to the honors they were awarded. With their experience, it would be safe to assume this audit committee is capable of understanding Chesapeake’s financial statements. That is, ensuring first that two of the committee members do have the necessary understanding. This can be done by a quick interview with the board members to make certain they can understand statements and have knowledge on auditing standards.
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