The purpose of Swisscom’s Enterprise Risk Management is to protect its enterprise value. It takes account of both external and internal events and is based on established standards COSO II and ISO 31000.
“Trust in our company depends on our exemplary conduct.”
Klaus Rapp, Head of Internal Audit
The Board of Directors is responsible for the establishment and monitoring of the group-wide assurance functions of Risk Management, Internal Control System, Compliance Management and Internal Audit. It is briefed comprehensively at least once a year so it can fulfil its tasks and responsibilities.
“Good Corporate Governance must be internalised.”
Hansueli Loosli, Chairman of the Board of Directors
Risks are driven by changes in markets, competition, technology, the regulatory environment and government policy. The importance of traditional telecommunications services is declining. New services in the areas of digitisation and IT services are intended to compensate for lost revenue from the core business. Over the long term, the market trends will necessitate major changes in the approach to risks related to the business model, technology and human capital.