ICAO Doc 8168 Part 1 makes no such references, and I've not heard of the term 'master altimeter'. As said, the master is the one the PF is using! Eurocontrol, Skybrary and the Flight Safety Foundation have lots of useful documents about altimeter checking, and best-practice procedures, and none mention doing what you suggest. Typically, the only formal checks done at low altitude are the Outer Marker (or equivalent) crossing height and the "500 feet above (DA/MDA)" call.
As an aside, some operators suggest doing the OM crossing height check thus: "passing the OM at xxx ft - that's correct". I would suggest the safest way to do it is "passing XXX ft - and overhead the OM". Think about it.....