Hi Sarah,
In that case you could make use of a formula text field and an If formula to check for what is checked and what is missing. For example:
If([VP Of Quality Review Required]=True AND [VP of Quality Approval]="", "VP of Quality Review Required", "") & " " &
[VP Of Finance Review Required]=True AND [VP of Finance Approval]="", "VP of Finance Review Required", "")
This would check to confirm that the VP's approval is required and if that status field is blank (hasn't been denied or approved) then if it is is it would display the text message "VP of Quality Review Required". You would just need to add a line to the formula for each comparison and result. Connecting each one with & " " &. So in my Example if you required the VP of Quality and the VP of Finance and neither had responded that field would display:
VP of Quality Review Required VP of Finance Review Required
You could add more lines to fit the number of options available and adjust the style or message to fit your needs but this is the rough formula build for that sort of use case.