Discuss BICSI RCDDv14.1 Exam Topic 4 Question 71

A regional finance program is impacted by a new currency regulation issued by a country in the region. The new regulation requires changes to the financial statements of that country's branches by the end of the fiscal year Failing to comply with the regulation may result in fines and/or closure of the branches. A branch general manager immediately meets with the program manager to select and secure a local fiscal expert to support the regulation as these types of resources are in high demand. There is a high risk that the changes will not be completed on time if the resource is not secured

What should the program manager do to address the risk?

ABuild a coalition with local companies that can influence the government to renegotiate the imposed deadline

BCreate fine and closure scenarios to assess the impact on the program and create a contingency plan

CGenerate a delivery incentive contract with the selected fiscal expert to ensure on-time delivery of the revised financial statements

DAssess the risk incorporate it in the program's risk management plan and meet with the steering committee

Suggested Answer: A

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22 comments · newest first

Daniela 2 days ago

Agree, but we should also consider option B. Scenarios help us prepare.

Patrick 7 days ago

I think option C is the best. Incentives can motivate the expert.

Quentin 12 days ago

I like C, but we need to act fast to secure that expert!

Cassandra 17 days ago

A could work, but it feels risky to rely on government negotiations.

Naomi 22 days ago

D is smart too. We should involve the steering committee early.

Thurman 28 days ago

Option B sounds solid. We need to understand the consequences first.

Dominic 1 month ago

I agree, but what if the expert can't deliver?

Ahmed 1 month ago

I think option C is the best. Incentives can motivate the expert.

Lai 1 month ago

Wait, can they really secure a local expert in time? Seems tough!

Samira 2 months ago

A delivery incentive sounds smart! Keeps the expert motivated.

Latosha 2 months ago

Not sure if a coalition will actually change anything.

Shaquana 2 months ago

I think option B makes the most sense. Better to plan for the worst.

Renea 2 months ago

Sounds like they need to act fast to avoid penalties!

Rebecka 2 months ago

Not sure if building a coalition will actually help in this situation.

Vincent 2 months ago

A delivery incentive contract could really motivate the expert!

Tamar 3 months ago

Wait, can they really renegotiate the deadline? That seems unlikely.

Freida 3 months ago

I think option D is the best way to go. Risk management is key!

Lina 3 months ago

Sounds like a tight deadline! They need to act fast.

Kallie 3 months ago

I think building a coalition might be too ambitious given the time constraints. It seems like a longer-term strategy rather than a quick fix for this urgent issue.

Estrella 3 months ago

I feel like generating a delivery incentive contract could be a good move, but what if the fiscal expert still can't meet the deadline?

Keneth 4 months ago

This scenario reminds me of a practice question we did about managing regulatory changes. I think creating fine and closure scenarios could really help in understanding the potential impacts.

Buck 5 months ago

I remember discussing the importance of risk assessment in our last class, but I'm not sure if just incorporating it into the risk management plan is enough.

BICSI RCDDv14.1 Exam - Topic 4 Question 71 Discussion