Principle 7: Accuracy - Risk management reports should accurately and precisely convey aggregated risk data and reflect risk in an exact manner. Reports should be reconciled and validated. Successful demonstration of Principle 7 requires senior management to rely upon the information presented in risk reporting. Since forward-looking strategic decisions are
Principle 5: Timeliness – A bank should be able to generate aggregate and up-to-date risk data in a timely manner while also meeting the principles relating to accuracy and integrity, completeness and adaptability. A timely and accurate view of risk exposure, aggregated across credit counterparties and financial products could have
Principle 4: Completeness – A bank should be able to capture and aggregate all material risk data across the banking group. Data should be available by business line, legal entity, asset type, industry, region and other groupings, as relevant for the risk in question, that permit identifying and reporting risk
