Walter Frederick Ernst Frese was better known as Walter F. Frese. He was a certified public accountant and joined the U.S. Treasury Department in 1935.
In late 1941, Frese came to Hong Kong after an inspection visit made to China to examine the treasury stabilization funds that had been advanced by the U.S. government. He became trapped in Hong Kong during the Japanese invasion. Frese was interned in Stanley Camp and repatriated to the United States in 1942.
After the war, Frese would go on to head the Accounting Systems Division of the General Accounting Office of the U.S. government and later become professor emeritus at Harvard Business School.
Source
1. Visit made to China. The Daily Iowan newspaper 16 September 1942. See https://dailyiowan.lib.uiowa.edu/DI/1942/di1942-09-16.pdf
2. Defender of the Public Interest: The General Accounting Office 1921-1966 by Roger R. Trask. See https://www.google.ca/books/edition/Defender_of_the_Public_Interest/fit3SGVPd30C?hl=en&gbpv=1&dq=walter+f.+frese,+treasury+accountant&pg=PA314&printsec=frontcover
Obituary/Memorial:
1. https://www.thecrimson.com/article/1987/11/16/accounting-professor-walter-f-frese-dies/
2. https://www.findagrave.com/memorial/159419123/walter-fredrick_ernst-frese