Cabinet Decision No. 21/2016 On the Implementing Regulation to Federal Law No 12/2014 on the Regulation of the Auditing Profession
The Council of Ministers,
-Pursuant to the perusal of the Constitution;
-Federal Law No. 1/1972 on Competencies of the Ministries and Powers of the Ministers and its amendments;
-Federal Law No. 12/2014 on the Regulation of the Auditing Profession; and
-Based on the proposal of the Minister of Economy and the approval of the Cabinet,
Has issued the following Decision:
Article 1 - Definitions
In application of the provisions of the present Regulation, the following terms shall have the meanings assigned thereto, unless the context requires otherwise:
State: United Arab Emirates.
Ministry: Ministry of Economy.
Minister: Minister of Economy.
Competent Authority: Concerned local authority in each Emirate.
Profession: Auditing profession.
Register: Any of the auditors' registers provided for in Article (2) of this Regulation, which are created at the Ministry to enrol auditors in accordance with the provisions of the Law and this Regulation.
Auditor: A natural person or legal entity enrolled in one of the auditors' registers at the Ministry.