BICSI Exam RCDDv14.1 Topic 1 Question 38 Discussion

Actual exam question for BICSI's RCDDv14.1 exam

Question #: 38
Topic #: 1

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

Show Suggested Answer

Suggested Answer: A

by Viola at Aug 26, 2024, 04:37 AM

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Cassi

2 months ago

Option B is a bit too reactive for my liking. Better to be proactive and motivate that expert to get it done on time!

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Peter

2 months ago

Haha, I'm just imagining the fiscal expert doing a happy dance for that juicy delivery incentive. C is definitely the way to go.

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Sylvie

29 days ago

It's crucial for the program manager to assess the risk and incorporate it into the risk management plan to ensure everything runs smoothly.

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Marya

1 months ago

I think creating a contingency plan with fine and closure scenarios would also be a good idea to be prepared for any potential risks.

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Georgene

1 months ago

Yeah, it's important to make sure the changes are completed before the deadline to avoid any fines or closure of branches.

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Junita

1 months ago

Yeah, it's a smart move to ensure compliance with the new regulation and avoid any potential fines or closures.

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Jackie

2 months ago

I agree, that delivery incentive would definitely motivate the fiscal expert to get the job done on time.

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Marylyn

2 months ago

I agree, the delivery incentive contract would definitely motivate the fiscal expert to get the job done on time.

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Mertie

2 months ago

I believe generating a delivery incentive contract with the fiscal expert is crucial to ensure on-time delivery of the revised financial statements.

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Salome

2 months ago

D is also a good option, but I think C is more proactive and directly addresses the risk. Gotta love that carrot-and-stick approach!

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Alica

2 months ago

Creating a contingency plan based on fine and closure scenarios could also help mitigate the risk.

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Carry

2 months ago

I agree with Janessa. Meeting with the steering committee would also be a good idea to discuss the potential impact.

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Janessa

2 months ago

I think the program manager should assess the risk and incorporate it in the risk management plan.

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Mohammad

3 months ago

I agree, C is the best choice here. Incentivizing the expert to get the job done right and on time is crucial.

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Mirta

2 months ago

Agreed, offering a delivery incentive contract will help ensure the changes are completed on time.

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Jacquelyne

2 months ago

I think option C is the way to go. Incentivizing the expert is a smart move.

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Rossana

3 months ago

Option C seems like the way to go. A delivery incentive contract is a smart move to ensure the fiscal expert delivers on time.

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Anabel

2 months ago

Creating a delivery incentive contract will motivate the fiscal expert to complete the task on time.

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Lanie

2 months ago

It's important to have a plan in place to mitigate the risk of not meeting the deadline.

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Alease

2 months ago

I agree, option C is a proactive approach to ensure the deadline is met.

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