We, Mohammed bin Zayed Al Nahyan, President of the United Arab Emirates;
- Having reviewed the Constitution;
- Federal Law No. 1 of 1972 Concerning the Jurisdictions of Ministries and Powers of Ministers, as amended;
- Federal Law No. 12 of 2014 Regulating the Auditors Profession, as amended;
- Based on the proposal submitted by the Minister of Economy; and approval of the Cabinet,
Have promulgated the following Decree-Law:
In applying the provisions of this Decree-Law, the following words and expressions shall have the meanings assigned to each of them, unless the context stipulates otherwise:
State: United Arab Emirates.
Ministry: Ministry of Economy.
Minister: Minister of Economy.
Authority: Securities and Commodities Authority.
Competent Authority: The concerned local authority in each Emirate.
Profession: Auditing and Accounting Professions.
Chartered Accountant: The natural person duly licensed pursuant to the provisions of this Decree-Law to practice the profession and provide the professional services stipulated in