Shareholders' Letter

39 Risk assessment process
Swisscom has a centralised risk management system in place that distinguishes between strategic
and operative risks. All identified risks are quantified as a function of the probability of occurrence
and possible impact and are set forth in a risk report. The risk report is discussed periodically by
the Audit Committee. Management aims to monitor and control risks on an ongoing basis. A risk
assessment is undertaken to identify the risks arising from the application of the accounting principles
or from financial reporting. Control mechanisms are defined within the scope of the internal
control system to minimise the risks connected with financial reporting. Residual risks are classified
according to their possible impact and monitored accordingly. See Notes 4 and 33.
40 Events after the balance sheet date
Approval of the consolidated financial statements
The Board of Directors of Swisscom approved the release of these consolidated financial statements
on 16 February 2011. As of this date, no significant post-balance sheet events occurred.