Auditors

The Board Committee is responsible for supervising and controlling the auditors. Since 1996, PricewaterhouseCoopers based in Chur, Switzerland, has been appointed annually by the General Meeting of Shareholders as the statutory auditors and Group auditors. The lead auditor, Beat Inauen, has been responsible for the mandates since 2010. In 2010 PricewaterhouseCoopers was paid a total fee of CHF 1.302 million for their auditing services for the Group and TCHF 556 for other consulting services. The fees for other consulting services comprise the following: TCHF 274 for tax consulting, TCHF 249 for project-related consulting and TCHF 33 for other consulting such as transfer pricing.