7 Your firm has performed the audit ofJ a M for the past five years. The precedingmaterials describe the company's board of directors. Recent emphasis on corporategovernance has caused your firm to increasingly document its understanding of the natureof the board of directors. In a memorandum to the audit team explain your view on thelikely effectiveness of the board of directors as an oversight mechanism for J & M. Remember: Your response will be graded for both technical relevance and writing skills.For writing skills you should demonstrate an ability to develop your ideas, organize themand express them clearly. Do not convey information in the form of a table, bullet pointlist, or other abbreviated presentation.