The four-year-old Independent Standards Board was formed under an agreement between the US Securities and Exchange Commission and the American Institute of CPAs.
But following the revision of auditor independence rules last year, both bodies agreed the ISB had met its goals and will shut 31 July.
During its tenure, the ISB made contributions in areas such as communications between audit committees and auditors and of professionals leaving an accounting firm to work for one of the firm’s audit clients.
Acting SEC chairman Laura Unger said: ‘The Commission’s auditor independence rulemaking would not have been possible without the foundation laid by the ISB.
‘Major parts of our rules can be traced to the ISB’s standards and public discussions of the issues. The ISB members and staff deserve our greatest thanks for doing a difficult job with skill, statesmanship, and professionalism. They have exhibited the highest level of public service.’
Andrew Tyrie airs views on the Finance Bill, 'Making Tax Policy Better' report, and Brexit
In our latest managing partner Q&A looking towards 2017, CVR Global's Richard Toone talks about recruitment, and the potential threat of competition from the legal sector, as key issues for the firm in the coming year
Deloitte to avoid tendering for government contracts over the next six months, to appease Theresa May following consultant's report that painted a less-than-flattering picture of Brexit plans
In our first Q&A looking towards 2017, Menzies senior partner Julie Adams flags up increasing digitisation, aligned with more hands-on consultative services, as the key mix for her practice