Legislative Action Committee (LAC)
The Legislative Action Committee is a leadership body that, through research and monitoring activity, provides insights, guidance, and expertise for all matters related to regulations from the government (at the state and federal level), and from those imposed by bodies who are influential within the disciplines we support. The Committee supports the EAB by setting priorities and making policy direction recommendations on how to handle issues that affect the Association. And by being proactive in recognizing critical issues in the changing business valuation and financial litigation industry as well as identifying opportunities to develop and promote Association action and involvement. The LAC reports to the SDB.
Regulatory and influential organizations to watch include:
- Internal Revenue Service (IRS)
- U.S. Small Business Administration
- U.S. Tax Court
- State, Circuit, and District Courts
- Department of Labor
- Appraisal Foundation
- U.S. Securities Exchange Commission (SEC)
- Financial Accounting Standards Board (FASB)
- Public Company Accounting Oversight Board (PCAOB)
- American Institute of Certified Public Accountants (AICPA)
- American Society of Appraisers (ASA)
- International Valuation Standards Council (IVSC)
Priorities will be further defined with assistance of the Committee as it evolves. This will include:
- Discovering regulating policy changes during conception and prior to implementation;
- Identifying legislation/regulation to the parties who have the ability to impact business valuation and financial litigation industry policy;
- Presenting discoveries to the NACVA Boards in a timely fashion with accurate and complete data;
- Advising on strategy to ensure that imposed changes and rules do not adversely impact the Association or its practitioners;
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Fostering recognition as experts in business valuation and financial litigation, on a state and federal level; and
- Contributing high value research and content to the Association and to the industry in the form of alerts, articles, whitepapers, and training.
