The case of the lasting Hertz
Ethics
Charles Selcer, CPA, MBA | February/March 2024 Footnote
Editor's note: Updated February 1, 2024
Lord Howett Hertz is a noble gentleman from England and is a specialist in accounting for certain precious metals inventories and the valuation thereof. He was hired by the CPA fi rm Hook, Lyne & Stynker for their new client, Mendelevium, Einsteinium, Samarium & Seabargain (aka MESS) to install a system of controls and processes for their metals inventory. No one at the CPA fi rm is capable of defining Lord Howett Hertz’s tasks or evaluating his work.
Q. Is this OK?
A. No. Under 1.300.020.01, it notes: A member who employs a specialist to perform consulting services for the member’s client must be qualifi ed to
supervise and evaluate the work of that specialist. Although the member is not required to be able to perform each of the specialist’s tasks, the member should be able to defi ne the tasks and evaluate the end product.
