6: Annual Audit of Internal Control Procedures Outcomes Board of Director ’ s Declarations The external auditor , as part of their review of the company’s complete financial statements , evaluates the internal control system , including the accounting system , from both theoretical and practical aspects , and provides the company with a report that outlines any weaknesses in the system , if any , as well as methods of addressing them They are also provided with internal audit reports for the auditing period Under the supervision of the Audit Committee , the company’s internal audit department carries out continuous financial , operational , and technical audits to verify the effectiveness and efficiency of internal control systems in protecting the company’s assets , evaluating business risks , and measuring the performance quality The internal audit department submits its quarterly periodic reports to the audit committee , which includes results of the company ’ s internal control evaluation The annual audit committee report has confirmed the effectiveness and quality of the company’s internal control procedures and did not detect any fundamental weaknesses in the company’s internal control system during 2023
Committee Member Remuneration
Fixed Remunerations (Excluding meeting attendance )
Name
Meeting Attendance
Total
Audit Committee Members
1
Sulaiman Nasser AlHatlan
150،000
18،000
168،000
2 Saleh Moqbel AlKhalaf
150،000
18،000
168،000
3 Ahmed Abdullah AlKanhal
150،000
18،000
168،000
4 Nayef Ibrahim AlHudaithi
150،000
18،000
168،000
The internal control system was prepared on sound principles and implemented in an effective manner.
Total
600،000
72،000
672،000
The account records are prepared in an appropriate and proper manner.
There is no doubt regarding the issuer ’ s ability to carry out the audit.
Nominations and Remuneration Committee Members
1
Abdul-Ilah Abdulrahman AlHussein
150،000
12،000
162،000
2 Abdullah Mohammed AlBahouth
150،000
12،000
162،000
3 Dr Fahad Mousa AlZahrani
150،000
12،000
162،000
Total
450،000
36،000
486،000
Executive Committee Members
1
Majed Nasser Alsubeaei
150،000
18،000
168،000
2 Fahad Abdullah AlKassim
150،000
18،000
168،000
3 Abdullah Mohammed AlBahouth
102،000
18،000
120،000
4 Nayef Ibrahim AlHudaithi
99،000
18،000
117،000
Total
501،000
72،000
573،000
45
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