Michael Schemmann

Principles of Higher Education: Auditing Standards for Accredited Schools of Business Michael Schemmann

Accreditation of critically acclaimed Schools, Colleges and Departments of Business is in the public interest and should be a matter of right, not privilege, subject to generally accepted higher education standards, and generally accepted educational standards on auditing, in a straight-forward and speedy process akin to the attestation of public companies' annual financial statements all over the world. AASBI's Accreditation is an audited self-accreditation process by the School preparing an annual Statement of Educational Conditions, engaging the public auditing profession in the jurisdiction of the School, College or Department of Business to audit the Statement of Educational Condition and express an opinion on the fairness of the presentation in accordance and in compliance with generally accepted educational principles. The AASBI's role is to review the School's audited statement of educational conditions and to confirm accreditation, or to withhold. The AASBI's accreditation process is effective, as it involves trained and experienced audit professionals. The process is efficient as it can be combined with the audit of the School's or College's annual financial statements. AASBI accreditation can be completed in months instead of years.