Independence Standards Board (ISB)

The Independence Standards Board (ISB) was an organization that established rules to ensure auditors remain objective and free from conflicts of interest when reviewing financial statements. Its purpose was to maintain trust in the auditing process by setting standards that prevent auditors from having inappropriate relationships or financial interests that could influence their judgments. Although the ISB was active until 2003, its responsibilities were later integrated into the American Institute of CPAs (AICPA) and the Public Company Accounting Oversight Board (PCAOB) to continue safeguarding independence in audits.