1. The Emirates Authority is the supreme body for financial Control, accounting, integrity and transparency in the State. It enjoys the legal personality and legal capacity necessary to carry out its activity and achieve its objectives, and financial and administrative independence, and it reports directly to the President of the State.

2. Subject to the text of Clause (3) of Article (42) of this Law by Decree, the Authority shall be considered a legal successor to the Audit Institution established by Federal Law No. (8) of 2011, and all rights, assets and obligations of the Audit Institution shall be transferred thereto.