Standards for Professional Accounting Accreditation
1. The IICPA accredits licensed degree-granting Accounting Faculties/Departments of university-level Colleges, Departments or Schools of Business of higher learning (the "School" or "Schools") worldwide.
A School applying for accreditation should comply with the following Standards for Professional Accounting Accreditation ("PAA").
2. The applying School offers accounting courses that prepare students to sit for professionalc accountant and related examinations, including but not limited to CA, CPA, ICPA, CMA, CFA etc.
3. The School offers a full range of undergraduate and/or graduate courses including financial, internal, and management accounting, finance, commercial law and taxation.
4. The School provides training for the acquisition of technical skills that prepare students to provide services directly to the public or
as employees of accounting and/or consulting firms, business enterprises and associations operating in and/or involved with virtually any area of accounting and finance, including but not limited to:
- Assurance and Attestation Services including Forensic Accounting (preventing, detecting, and investigating intentional financial misrepresentation)
- Internal Auditing
- Corporate Finance including but not limited to mergers & acquisitions, initial public offerings (IPOs), capital stock & debt issuings)
- Corporate Governance
- Estate Planning to the extent applicable to local practices and law
- Financial Accounting and Reporting based on local Generally Accepted Accounting Principles and IFRS, if different
- Managerial Accounting
- Financial Analysis
- Financial Planning
- Taxation income tax, excise tax, issues of international taxation including transfer pricing, and tax planning)
- Information Technology and Data Analysis especially as applied to accounting, auditing and taxation
- Management Consulting and Performance Management
5. The School is able to demonstrate cognitive and skill-based observable learning outcomes for the above courses, and is able to justify the level of observable learning outcomes.
The accounting faculty members (tenured full-time, part-time or adjunct) teaching accounting courses include, or will include, professionally qualified members.
7. A faculty member is "professionally qualified" if s/he has a bachelor's degree, but preferably a master's degree, in accounting, finance or related field and holds a public accounting designation that
permits the faculty member to perform the attest function with a current or former license to practice, eg, Certified Public Accountant, Chartered Accountant, Chartered Financial Analyst, etc.,
or is a member of another recognized professional accounting or financial body including Chartered Financial Analyst (CFA) and obtained his/her designation on the basis of a professional examination.
8. The majority of the faculty teaching accounting courses have more than three years of teaching and/or practical business and/or professional experience.
The Application and Review Process
The School prepares a Statement of Professional Accounting Conditions in the form of an Accounting Accreditation - Checklist and Affirmation
Annual dues for IICPA Accounting Accreditation: For AASBI-accredited Schools of Business: Billed by AASBI for its accredited business schools: additional $500 USD per year, or
if billed by IICPA for non-AASBI-accredited business schools: $1,650 USD per year, as adjusted from time to time.
The entire application, review and accreditation process should be completed from start to finish in less than three months.
Accreditation Period: The regular initial accounting accreditation period is three years, extended to five years upon renewal.