LRA

(redirected from Litigation Risk Assessment)
AcronymDefinition
LRALord's Resistance Army (rebel group in Uganda)
LRALouisiana Recovery Authority
LRALabour Relations Act (various locations)
LRALocal Redevelopment Authority (Section 2910, Defense Base Closure and Realignment Act of 1990, as amended)
LRALoudness Range (audio variation)
LRALocal Redevelopment Authority
LRALocal Registration Authority
LRALiteracy Research Association (Oak Creek, WI)
LRALocal Responsibility Area (various organizations)
LRALouisiana Restaurant Association
LRALocal Reuse Authority
LRALumped (Discrete) Raman Amplifier
LRALong Range Artillery
LRALow-Risk Adenoma (gastroenterology)
LRALess Restrictive Alternative
LRALinear Regression Analysis
LRALowry Redevelopment Authority (Aurora and Denver, Colorado)
LRALong-Range Aviation
LRALow-Range Radio Altimeter
LRALocked Rotor Amperage (compressors in air conditioning systems)
LRALoad Real Address (IBM)
LRALast Room Available (hotels)
LRALong Range Assignment (education)
LRALoughton Residents Association (UK)
LRALanding Rights Airport
LRALocal Reproduction Authorized
LRALength, Rotation, Angle
LRALandscape Reconstruction Algorithm
LRALong Range Attack
LRALive Rear Axle (automotive)
LRALow Rank Approximation
LRALine Replaceable Assembly
LRALamp Rynearson and Associates, Inc (Omaha, NE)
LRALauncher Relay Assembly
LRALowest Rate Available (hotel industry)
LRALight Replaceable Assembly
LRALaunch Reference Altitude (missile testing)
LRALogistics Readiness Assessment
LRALitigation Risk Assessment
LRALTE (Long Term Evolution) in Rural America (Verizon Wireless)
LRALuciferase Reporter Gene Assays
LRALowest Repairable/Replacement Assembly
LRALogistics Review Activity
LRALand Registry Authority
References in periodicals archive ?
If the typical litigation risk assessment is unlikely to contain relevant information, however, then this raises two questions, both of which suggest that the Textron decision might not be as significant outside of the tax context as this Comment has argued.
More fundamentally, the cost of creating a litigation risk assessment does not qualify as investment in the stakes-dividing function of litigation but instead is incurred for business purposes and as such produces positive social benefits.
In particular, it may deter companies, public and nonpublic, from voluntarily preparing litigation risk assessments that estimate the company's contingent liabilities for the benefit of third parties, including potential acquirers or investors, and thereby impede socially efficient business transactions, while at the same time diminishing the accuracy of public companies' financial statements.
In addition, the litigation risk assessment for uncertain tax positions should be prepared on a recurring basis, as is usually done for general litigation reserves.
Only documents that are prepared because of a litigation risk, including the litigation risk assessment under FIN 48, should be marked with a legend that they are "subject to the work product privilege.
Similarly, FIN 48 litigation risk assessments should be maintained in a separate file labeled "tax litigation workpapers," and these workpapers should include all potentially privileged information regarding the tax reserves on an individual issue basis.
This article follows up on a second article entitled "Further Thoughts on the Usefulness of Litigation Risk Assessments for the Management of Tax Controversies," which appeared in the May-June 1998 issue of The Tax Executive (50 Tax Executive 187).
As discussed in my previous article, subjective judgments are at the core of a litigation risk assessment.
Subsequently, we assisted the company in performing a litigation risk assessment.
The lesson from these experiences is that a litigation risk assessment can be very helpful for the formulation and consideration of a settlement offer.
A complex, large dollar issue may warrant a full litigation risk assessment prior to those settlement discussions.
Further, if litigation is the ultimate course, a litigation risk assessment done at the outset should be updated as the case develops.