The Texas State Board of Public Accountancy rules provide standards to be followed by certified public accountants testifying as expert witnesses. These rules are also published by the American Institute of Certified Public Accountants as the Statement on Standards for Consulting Services No. 1, applicable to litigation services generally, and the Statement on Standards for Valuation Services No. 1, applicable to valuation services specifically.
The following hypothetical scenario illustrates the practical need to avoid violating these standards.
