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The core purpose of this study is to empirically analyze the impact of audit and remuneration committees on the performance of the cement and textile firms listed on Pakistan Stock Exchange (PSX) for years 2012-2018.The methodology-The study focuses on the impact of attributes of audit and remuneration committees on firm performance. A simple random sampling technique is used to collect the secondary data from the cement and textile annual reports of the 63 cement and textile firms. The findings of the study support the postulation of agency theory and stewardship theory in the context of cement and textile industry of Pakistan. The study provides valuable inputs especially for the strategies of audit and remuneration committees to achieving the desired financial outcomes. Audit committee attributes have a positive and significant impact on firms return on asset (ROA) and return on equity (ROE). Likewise, remuneration committee’s attributes also have positive and significant impact on return on asset (ROA). However, the relationship turns into insignificant when it comes to ROE which may be possible due to the fact that most of the firms in the sample are family-owned which do their best for their self-interests. It is concluded that board members having accounting and financial expertise helps in executing the compensation plan and improve the quality of financial information reporting which positive implications. The study also recommends that they should focus on the busyness of members on board, size of the board, independent members and, stakeholders to improve firm performance.

Muhammad Imran Shinwari, Muhammad Wasim Jan Khan, Zujaj Ahmed, Gohar Sulaiman. (2020-2021) Impact of Audit and Remuneration Committee on Firm Performance: Evidence from Cement and Textile Firms of Pakistan Stock Exchange, Pakistan Business Review, Volume 22, Issue 4.
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