1. (a) A certificate or registration holder shall not undertake any engagement for the performance of professional services which he cannot reasonably expect to complete with due professional competence, including compliance, where applicable, with §501.60 of this title (relating to Auditing Standards), §501.61 of this title (relating to Accounting Principles), and §501.62 of this title (relating to Other Professional Standards).

   1. (1) Competence to perform professional services involves both the technical qualifications of the certificate or registration holder and the certificate or registration holder's staff and the ability to supervise and evaluate the quality of the work being performed.
   2. (2) The certificate or registration holder may have the knowledge required to complete the professional services with competence prior to performance. In some cases, however, additional research or consultation with others may be necessary during the performance of the professional services. If a certificate or registration holder is unable to gain sufficient competence through these means, the certificate or registration holder shall suggest to the client the engagement of someone competent to perform the needed professional service, either independently or as an associate.
2. (b) A certificate or registration holder shall exercise due professional care in the performance of professional services.
3. (c) A certificate or registration holder shall adequately plan and supervise the performance of professional services.
4. (d) A certificate or registration holder shall obtain sufficient data to afford a reasonable basis for conclusions and recommendations in relation to any professional services performed.

Source Note:The provisions of this §501.74 adopted to be effective June 11, 2000, 25 TexReg 5338.