Ethan Lee is a partner at Hemming Morse and maintains an office in Idaho Falls. He specializes in merger and acquisition (M&A) advisory and business valuation services. He is a Certified Public Accountant (CPA), licensed in California and Idaho. He holds the Accredited in Business Valuation (ABV) and Certified in Financial Forensics (CFF) credentials through the American Institute of CPAs (AICPA), as well as the Certified Merger & Acquisition Advisor (CM&AA) credential promulgated by the Alliance of Merger & Acquisition Advisors.

Ethan enjoys helping clients navigate the complexities of business transactions as both a sell-side and buy-side advisor. He provides consulting services relating to buy/sell agreements, exit planning, owner buy-outs and buy-ins, and capital raising. Ethan also provides quality of earnings studies and fairness opinions in connection with M&A transactions. He has performed business valuations for mergers and acquisitions, business transition planning, gift and estate tax compliance, litigation and dispute resolution, and other purposes. He has testified as an expert witness in federal and state courts, and has been a court-appointed expert and receiver. He has also worked as interim CFO of a ski resort.

Ethan has served as a member of the AICPA’s Forensic & Valuation Services Executive Committee and is currently serving on the Business Valuation Committee of the AICPA. He is also a member of the Expert Resource Connection (a national invitation-only, limited-member group of valuation and financial services experts), Alliance of Merger & Acquisition Advisors, CalCPA, and the Idaho Society of CPAs. He is a founding member of the East Idaho Business Transition Association and serves as president of the Salt Lake City Chapter of the American Society of Appraisers.

Ethan has presented at national and local venues including the AICPA Forensic & Valuation Services Conference, San Francisco office of the Financial Industry Regulation Authority (FINRA), and at multiple other professional venues. He is a co-author of the AICPA’s Model Business Valuation Curriculum and the Hawaii Divorce Manual published by the Hawaii State Bar Association. Ethan has been a guest lecturer at Sonoma State University and BYU ‐ Hawaii.

2022 – CM&AA, Certified Merger & Acquisition Advisor

2009 – CFF, Certified in Financial Forensics, American Institute of CPAs

2008 – ABV, Accredited in Business Valuation, American Institute of CPAs

2008 – CPA, Certified Public Accountant, licensed in Idaho and California

2006 – Bachelors of Science, Brigham Young University – Hawaii; Laie, Hawaii

■ Certified Public Accountant, State of California (2008) and State of Idaho (2019)

■ Accredited in Business Valuation, 2008

■ Certified in Financial Forensics, 2009

■ Certified Merger & Acquisition Advisor, 2022

■ American Institute of Certified Public Accountants,
2008 – Present
– Business Valuation Committee Member, 2023 – present
– Forensic & Valuation Services Executive Committee
Member, 2016 – 2019
– ABV Champion for Hawaii, 2012-2019

■ American Society of Appraisers, 2018 – Present
– President – Salt Lake City Chapter, 2021 – 2022

■ Idaho Society of Certified Public Accountants,
2019 – Present
– Member

■ Expert Resource Connection, LLC, 2020 – Present
– Member

■ Alliance of Merger & Acquisition Advisors, 2022
– Member