The former Australia vice-captain David Warner was regarded as the ringleader as the tourists were caught attempting to manipulate the condition of the ball in last month's third Test against South Africa at Cape Town.
His decision, just hours before a deadline, followed a contrite Steve Smith and Cameron Bancroft also accepting their sanctions on Wednesday.Warner and Smith were last week suspended from worldwide and domestic cricket for a year, while opening batsman Bancroft was exiled for nine months over the incident during the third Test in South Africa that shocked the sport.
"The Board is committed to the review being completed as expeditiously as possible, but we are also committed to getting it right", Peever said.
Critics have questioned whether CA's role in the affair should come under scrutiny, but chairman David Peever said he does not intend to step down and that chief executive James Sutherland's job is not in jeopardy.
'The independent review will provide an important foundation for ensuring these expectations are met'.
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The independent review will run in tandem with another player-driven process - headed by former test opener Rick McCosker - to draw up a "charter" for standards of behaviour and expectations of Australian men's cricket teams.
"It is anticipated that this process will include assessments as to whether changes to codes and standards governing player conduct are required", Peever, a former managing director of mining giant Rio Tinto, said.
However, it appears Sutherland is safe regardless of the outcomes of the review, with Peever declaring he had the "full support" of the CA board.
All three players have been dumped by sponsors as a result of the scandal, while Cricket Australia has been dropped by its top sponsor, fund manager Magellan. "We know the players will return to playing the game they love, and in doing so, we hope they rebuild their careers and regain the trust of fans".
In a wide-ranging press conference, Mr Peever also revealed further details about the organisation's independent review into the "culture, processes and governance" of the organisation.