It's definitely a final authority, although it can not be the final one for God Himself is an authority who is above it and teaches how it should be used and read. Not to mention that not all in the Church have had it or can use it, and the problem of discriminating between the plausible interpretations of many. As St. Victor said:
"Some one perhaps will ask, Since the canon of Scripture is complete, and sufficient of itself for everything, and more than sufficient, what need is there to join with it the authority of the Church's interpretation? For this reason — because, owing to the depth of Holy Scripture, all do not accept it in one and the same sense, but one understands its words in one way, another in another; so that it seems to be capable of as many interpretations as there are interpreters. For Novatian expounds it one way, Sabellius another, Donatus another, Arius, Eunomius, Macedonius, another, Photinus, Apollinaris, Priscillian, another, Iovinian, Pelagius, Celestius, another, lastly, Nestorius another. Therefore, it is very necessary, on account of so great intricacies of such various error, that the rule for the right understanding of the prophets and apostles should be framed in accordance with the standard of Ecclesiastical and Universal interpretation."
Those who are known as born again Christians receive Scripture in the way above and not in man-made traditions.