Sir John Bourn is to quit his job as chair of the Professional Oversight Board, capping off one of the most turbulent periods of his lengthy career.

The former National Audit Office chief has been under the spotlight since becoming embroiled in an expenses storm last year, and has now decided not to stand for re-election in his capacity as head of the POB.

The Financial Reporting Council has been undertaking a sweeping overhaul of its structure, which included the heads of its various boards being reviewed as part of a re-election process, but Sir John has decided to drop his responsibilities on the POB panel.

The FRC said: 'Sir John Bourn, after serving more than two full terms as chair of the Professional Oversight Board and its predecessor, the Review Board of the Accountancy Foundation, has said that he does not wish to be considered for a further three-year term.'

Sir John will continue as chair of the POB, past the official end of his term on 31 March 2008, until his successor can take over. He will then continue as an adviser to the FRC, committing two days a week to the role.

FRC chairman Sir Christopher Hogg said: 'I am very pleased that the FRC can continue to benefit from John’s massive experience and am most grateful to him for guiding the POB through a period of considerable development in its activities, which include, in particular, taking on its statutory role in relation to audit regulation and its new responsibilities for regulation of the actuarial profession.'

The FRC ill start the search for Sir John's replacement shortly.

Further reading:

Sir John to face re-election round