Fawaz Alhokair is devoted to maintaining the highest standards of Corporate Governance in the belief that striving for impeccable standards of integrity and excellence is crucial to the ongoing success of the organisation

Audit Committee
Fawaz Alhokair’s Audit Committee currently comprises two Directors and two professional experts, who oversee the Company’s risk assessment and management practices, internal controls, operations, financial reporting and audits of the Company’s financial statements. The Audit Committee is responsible for reviewing the Company’s disclosure controls and procedures, as well as the annual independent audit process, to ensure compliance with legal, accounting and regulatory requirements.

Remuneration of Directors
No compensation was paid to the members of the Board and members of Board committees, for the years ended 31 March 2003, 2004 and 2005 in their capacity as Directors.

Employees

Fawaz AlHokair aims to provide an environment for employees that encourage personal contribution to the development of the Company, and the opportunity to share in its success. Commissions are paid to store employees based on the achievement of monthly store turnover targets. Additionally, a profit sharing scheme distributes a portion of Company profit to eligible members of staff in proportion to salary and length of service. The Company is committed to the development of its staff and encourages its employees to provide exceptional customer service.