The Chief Risk Officer (CRO) at a financial institution is evaluating the company's techniques for managing risk data. To improve the robustness and efficiency of these risk data aggregation capabilities, the Basel Committee has outlined several key principles. Considering the various characteristics of the data, which of the following statements correctly represents a guideline that the bank should follow according to the Basel Committee's principles for effective risk data aggregation and reporting? | Financial Risk Manager Part 1 Quiz