Audit's Cautious Watchdogs

(continued)

"I tend to think it's not sufficient today," says Cook of the finance skill level on boards in general. And part of the problem is that terrific finance voices may be more suited to the audit committee alone, than to doing the broader work required of a full board member.

"If I were the chairman of a board," he says, "I would give up one of 10 seats to that specialized finance expertise." And skilled professionals would get serious consideration.