AACSB International — the Association to Advance Collegiate Schools of Business — has extended the accreditation of both the Walton College and its Department of Accounting.
Walton College officials received notification April 18 that the recommendations of the Continuous Improvement Review Committee and the Accounting Accreditation Committee for reaccreditation had been ratified by the AACSB International Board of Directors.
“AACSB accreditation is the hallmark of excellence in business education,” Walton College Dean Matt Waller said. “The reaccreditation recognizes the hard work of our faculty and staff to continuously improve the education of our students and acknowledges that the Walton College remains among the elite business schools in the world.”
AACSB accreditation has been earned by fewer than 5 percent of the world’s business schools. Today, there are 786 business schools in 53 countries and territories that have AACSB accreditation. The organization says only 186 institutions – fewer than 2 percent overall – hold additional specialized AACSB accreditation for their accounting programs.
Founded in 1926, the Walton College has maintained AACSB accreditation since 1931. AACSB International is the longest serving global accrediting body for business schools that offer undergraduate, master’s and doctoral degrees in business and accounting.
“Reaccreditation of the accounting program by AACSB International recognizes the quality of our program and of the education that accounting students get at the Walton College,” said Gary Peters, accounting department chair and holder of the G. William Glezen Endowed Chair in Accounting. “It also shows that Walton College accounting graduates – whether undergraduates or those in the master of accountancy program – are some of the best prepared to enter today’s business environment.”
“AACSB commends each institution for their exemplary work in holding the highest honor in business school accreditation,” said Robert D. Reid, executive vice president and chief accreditation officer of AACSB International. “During this peer-review process schools must demonstrate alignment with AACSB’s global accreditation standards, as well as how they encourage engagement, innovation, and impact across the communities they serve.”
Accreditation involves rigorous internal review, engagement with an AACSB-assigned mentor and peer review. During this multi-year continuous improvement review process, business colleges focus on developing and implementing a plan to align with AACSB’s accreditation standards. These standards require excellence in areas relating to strategic management and innovation; student, faculty, and staff as active participants; learning and teaching; and academic and professional engagement.
AACSB accreditation peer review team members visited the Walton College from Feb. 26-28 of this year.