001.01 "Accreditation" means the quality
control of the education process provided by generally recognized regional
and/or programmatic accreditation organizations. These Rules refer to three
levels of accreditation. Level 1 represents the most comprehensive review at
the accounting program level and Level 3 is the least comprehensive review at
the college or university level. Colleges or universities without
accreditation, as defined below, would generally lack any level of
accreditation including the college or university, the business school or
program ("business school"), and/or the accounting department or program
("accounting program").
1. Level 1
accreditation - the accounting program. In a Level 1 accreditation, the college
or university; business school; and the accounting program are separately
accredited. This level applies to an accounting program that is accredited by
an organization recognized by the Council of Higher Education Accreditation
(CHEA) as a specialized or professional accrediting organization, such as the
Association to Advance Collegiate Schools of Business-International (AACSB).
Accredited accounting programs have met standards substantially higher and much
more specific than those required for Level 2 or Level 3
accreditation.
2. Level 2
accreditation - the business school. In a Level 2 accreditation, the college or
university and the business school are separately accredited, but the
accounting program is not separately accredited. This level applies to a
business school that is accredited by an organization recognized by the Council
of Higher Education Accreditation (CHEA) as a specialized or professional
accrediting organization, such as the AACSB or the Association of Collegiate
Business Schools and Programs (ACBSP).
3. Level 3 accreditation - the college or
university. In a Level 3 accreditation, the college or university is
accredited, but neither the business school nor the accounting program meet
Level 1 or Level 2 requirements. This level applies to a degree-granting
college or university that is not accredited at Level 1 or Level 2, but is
accredited by an organization currently recognized by the Council of Higher
Education Accreditation as a regional accrediting organization or a regional
accrediting body recognized by the United States Department of
Education.
001.02
"College(s) or university(s)" means Board-recognized institution(s) of higher
education accredited by regional accrediting organizations.
