(1) The Court of Auditors shall exercise control over the formation, administration and use of public financial resources.

(2) The Court of Auditors shall be composed of 7 members.

(3) The President of the Court of Auditors shall be appointed by Parliament, on a proposal from its President, for a period of 5 years. The members of the Court shall be appointed by the Parliament on a proposal from its President.

(4) The Court of Auditors shall submit annually to Parliament a report on the administration and use of public financial resources.

(5) Other powers, as well as the way in which the Court of Auditors is organised and operated, shall be determined by organic law.