ةماعلا ةيعمجلا عامتجا ةراجتلل ةحاولا ةرهز ةك ر ش

(1)

ةماعلا ةيعمجلا عامتجا ةراجتلل ةحاولا ةرهز ةك ر ش

ةماع ةيدوعس ةمهاسم ةك ر ش

ةعجارملا ةنجل ريرقت

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we

dre pleased to present our report

for

the yeor ended

dt

December 374, 20 t t. This

report

describes

the

work done by zohrdh

Alwdho for

Troding

- ^Audit

Committee ("the Committee").

Th

e

Com

mitte

e

objeaive s

The key obiective

ofthe

^Committee^is

^to

^assist

^the

^Boardof Directors in

fulfilling

its oversight responsibilities

with

particular emphasis on

the following:

1.

lntegrity, fairness and transparency

ofthe

financial statements

2.

Compliance

with pertinent

laws and regulations

3.

competence and independence

ofthe

external auditors

4. Performance by Risks& lnternal Audit of its duties

and maintenance of its independence

5.

Adequacy and effectiveness of the internal control system

6. ^Ensure that the set Company's plans and

ob.iectives are properly _beingmet.

Orgdnization structure ond working oI the Audit Committee

The Committee is independent and

consists

of three

non-executive members.

lt

shall meet at least four times per year.

Members

of the

Management and External

Auditors

may also attend

meetings upon invitation,

as

well as any other related

^persons

or

organizations as deemed necessary by the Committee.

Risks

&

lnternal

Audit

Manager ^isthe Secretary of the Committee

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011 2111703 C. R 1010190390 - $ngdom of Saudi Arabia

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ZahBh Al Waha for TrddinS Company

on

Juii,'

1?:?oibSiiSHBild of

Directors

of the

comp-any decided

to

amend

the Audit

Committee's

functions to

include Risks Committee's functions and responsibilities.

Eight meetings

were

held

during the

^year

for the committee's

ended

period at

^December

25,

2027. The

dates of

meetings

and

individual attendance by members is shown below:

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Name of Member

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Mr. Taha M. Azhar!

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Mr. Meshaal M. Al- mogren

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Present Present Present Present Present Present Present Present

Member Present Present Present Present Present Present

Member

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Secretary -rJt

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www2aoasis-aom Head

Office:

Al-Rabwah

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Ahsa St.

Building No. 7449 Code 12814 Add No- 2980 Unifed No.:92m2U03 Fax

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011 2111703 C. R 1010190190

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Kingdom of Saudi Ambia

Mr. Ahmed Harara

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Mr. Hany Sherif

L6lrl2022

Present Absent

Present

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Zahrah Al Waha for Trdding Company

Main Adivities of the Audit Committee

1.

Orqanizational

.

The Audit Committee has chosen Mr. Taha Mohammed Abdul

Wahid Azhari

as Chairman

of the Audit Committee for the

committee's

starting

period

from

December

26,202L

.

The Committee discussed and recommended

the

hiring of

the external auditor from

professional

firms for The

Company's Extra-Ordinary General Assembly Meeting for year 2022, which

decided to hire of the external auditor

^(BDO

Dr.

Mohamed AlAmri

&

Partners).

2.

Financial Reportins

The Committee also discussed, reviewed, and recommended for approval

ofthe

Company's quarterly financial statements for the year 2022.

3.

Policies / Procedures / Manuals

The committee reviewed and discussed the

following corporate

Governance manual

Aging and Provision Poliry

During

the

^year,

the Committee monitored the

performance

of the

Risks

&

lnternal

Audit

Department and discussed

the

Risks

&

lnternal

Audit

plan and Risk Assessment.

Also,

the

Committee discussed Risks

& internal audit reports of the

company's department auditee during the year in accordance with

the

risks

&

internal audit plan.

ln addition, the committee assessed the annual performance of Risks

&

lnternal

Audit

Manager for the year of 2022.

5.

External Auditors

The

Committee

discussed

and

recommended

the hiring of

the external auditor from professional firms for

The

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Capital

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4.

Risks

& lnternal Audit Department

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Zahrah Al waha for Trading Company

pa a

inary

General Assembly

Meeting for

year 2022, which decided to hire

ofthe

external auditor ^(BDO Dr. Mohamed AlAmri

&

Partners)-

The Committee monitored the External

Auditors performance during the year.

The Committee shall regularly meet with the

^external

auditors in the

absence

of the

Company's management

to

discuss

the

most significant matters, and

to

ensure

that the

audits are being performed smoothly

without

any obstacles.

Audit Committee Prccedu res

The

committee reviewed

the

quarterly financial statements and other matters. she also interacted regularly

with

management and the internal auditors.

Based

on the

recommendations

of the

internal

audit, the

committee recommended that the managementtake the necessary measures to improve

the

internal control systems

in

accordance

with

business needs and best practices.

The committee evaluated the independence ofthe auditor and reviewed their scope

of

work and the terms

of

contracting with them. Accordingly, the committee recommended their nomination to the ^Boardof Directors.

Verify the auditor's independence, objedivity, fairness, and effectiveness of audit work, considering the relevant rules and standards.

Reviewing the activities and work ^planof the company's auditor

Reviewing

the

chartered accountant's reports and notes on the financial statements.

Reviewing contracts and transadions proposed

to

be conduded by the company with related parties.

After

reviewing

the

annual financial statements

for the

year ending 31 December 2022, the Commiftee considers that the financial statements, in all material respects, comply with all relevant regulations.

Accordingly,

the

committee recommended

to the

Board

of

^Directors^to

approve the annualfinancial statements for the ^yearending on December 31, 2022.

The committee reviewed

the

results

of the

^repons

of the

sup€rvisory authorities and verified

that the

necessary measures were taken

in

this regard-

The committee made sure of the company's compliance with relevant laws, regulations, policies and instructions.

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-

Capital

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S.R. 225.000-000

Head Office:Al-Rabwah

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Building No. 7449 - Code u814 - Add No.2980 Unified No.: 920021203 Fax

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6J� big.JI 6µl)j <'bµi, Zahrah Al Waha for Trading Company

The Auciti 'Co-mm'iffee s oj,1nion on the adequacy of the company's internal control systems

The reviews were conducted to verify the adequacy and effectiveness of the control systems necessary to protect the Company's assets, and to assess the Company's ability to mitigate potential risks. Based on the results of the audit and the reports that were presented to the Audit Committee by the Internal Audit and Risk Department and the external auditor, the Audit Committee did not find any material weakness that would affect the internal control procedures or affect the company's business and property.

Based on the results of the audit and reports issued during the year 2022, it is not possible to be absolutely sure of the comprehensiveness of the examination and evaluation processes that are carried out for internal control procedures, because the audit process is in essence based on taking random or studied samples. The executive management makes the necessary correction of the observations issued in the reports of the Internal Audit and Risk Department, the external auditor, and the observations of the supervisory authorities to develop the internal control systems in an appropriate manner.

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On behalf of Zahrah AI-Waha For Trading - Audit Committee

Joint Stock - Capital : S.R. 225.000.000 Head Office : AI-Rabwah - Al Ahsa St Building No. 7449 -Code 12814 -Add No. 2980 Unified No.: 920021203 Fax : 011 2111703 C. R. 1010190390 - Kingdom of Saudi Arabia www.zaoasis.com

Taha Mohammed Abdul Wahid Azhari

___

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_____________

Chairman of the Audit Committee

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