In how the Catholic Church views their Catechisms as interpretations of Sacred Scripture, so Lutherans do with the Book of Concord.The Book of Concord contain two Catechisms Lutherans know: The Small Catechism (which is taught to children, converts, and even Adults to refresh their memories. In all, it is for the Laymen) and The Large Catechism (which is mostly used by Pastors.) God’s word is first and foremost important. The Book of Concord is a much more condensed and a more simple way of explaining Scripture and Lutheran Theology.
Those Lutheran synods that allow women and homosexuals to be ordained into clergy are in grave danger insomuch as they seem to forget both Sacred Scripture and The Book of Concord. Again, Scripture is the most important while the Book of Concord helps put Scripture into perspective. They are more on the liberal side of the religious spectrum while my synod (LC-MS) and the Wisconsin synod are more apologetic to Scripture and the BOC.
As for Scripture, Lutherans are confident in the translation of their Bible because of Four Things: 1) The History of the books in the Bible 2) The Grammar used in the Bible 3) Christology and 4) Soteriology. Catholics, however, differ from this according to the Compendium: Catechism of the Catholic Church:
How is Sacred Scripture to be read? Sacred Scripture must be read and interpreted with the help of the Holy Spirit and under the guidance of the Magisterium of the Church according to three criteria: (1) it must be read with attention to the content and unity of the whole of Scripture; (2) it must be read within the living Tradition of the Church; (3) it must be read with attention to the analogy of faith, that is, the inner harmony which exists among the truths of the faith themselves.
Your interpretation of Scripture comes from the help of the Pope, which is in-itself misinterpretation of Scripture. You don’t rely on the authenticity of how Scripture is historically accurate, neither do you look closely at the grammar originally used to create the Old and New Testaments. If anything, you rely on the Papacy and the Vulgate Bible for your interpretation.