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October 2020

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Accreditation Fees & Costs – Oct 2020

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Accreditation Costs

There are several facets to the costs of accreditation:
  1. Payments made to the relevant accreditation bodies and comprise a mix of membership fees, accreditation fees and other expenses etc.  These are relatively fixed and easy to estimate (see link below).
  2. Staffing and advisory costs to support accreditation.  These are harder to estimate, and depend on several factors.  Will there be an accreditation team with sufficient time and experience to manage the full accreditation process? Are there additional faculty allowances given to accreditation?  Will the School require some external input, to support the internal resources?
  3. Investment Costs:  These vary hugely from school to school and naturally depend on each School’s strategic priorities.  Of course, strategic investment costs are not always linked to accreditation: Some strategic decisions will be made regardless of accreditation plans.  Others may only be made as a consequence of accreditation.

QED has listed the costs and fees associated with each of the accreditation bodies (#1 above).  These can be viewed here.

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AACSB: Transition Table for 2020 Standards

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AACSB: Transition Table for 2020 Business Accreditation Standards

AACSB’s  2020 Business Accreditation Standards were released at the end of July 2020.    The new standards represent a streamlined, principles-based framework and provide flexibility for the Business School of the future

The broad transition period for the 2020 Standards is outlined in the table below:

qed-aacsb-2020-transition-table

Any school that is currently in the initial accreditation process, and expects to have a peer review visit after July 2021 should consult with their AACSB Staff Liaison to discuss their preferred transition time.  Queries of a technical nature can be addressed to your AACSB Staff Liaison (for member schools), your mentor (for those in the process of initial accreditation) and/or your external advisor (such as QED).

 

For advice and further details on any of the above, please contact the QED Accreditation Team at info@QEDaccreditation.com.