Singapore, 14 April 2021 (Wednesday) – The Singapore Management University’s (SMU) Lee Kong Chian School of Business (LKCSB) and School of Accountancy (SoA) have both earned re-accreditation from AACSB International (AACSB), the largest business education network and longest serving global accrediting body for business schools.

For more than a century, AACSB accreditation has represented the highest standard of quality in business education in the world. Among all the institutions offering business degrees across Asia, SMU is one of seven universities that have earned accreditation in both business and accounting. It was also one of the youngest schools globally to have achieved this dual accreditation.

Achieving accreditation is a process of rigorous internal focus, engagement with an AACSB-assigned mentor, and peer-reviewed evaluation. During this multiyear path, schools 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. To achieve accounting accreditation, an institution must first earn AACSB business accreditation and then satisfy a supplemental set of standards specific to the discipline and profession of accounting. Once accreditation is achieved, each institution participates in a five-year continuous improvement peer review to maintain high quality and extend its accreditation.

SMU’s attainment of re-accreditation followed a new set of standards – 2020 Business standards and 2018 Accounting standards.  These standards require institutions to demonstrate how they meet the three pillars of Innovation, Impact and Engagement. Comments from the AACSB Peer Review Team can be found in the Annex.

“AACSB congratulates each institution on their achievement,” said Stephanie M. Bryant, executive vice president and chief accreditation officer of AACSB. “Every AACSB-accredited school has demonstrated a focus on excellence in all areas, including teaching, research, curricula development, and student learning. The intense peer-review process exemplifies their commitment to quality business education.”

Professor Gerard George, Dean of SMU LKCSB, said, “I am extremely proud that we have successfully achieved re-accreditation under AACSB’s new standards. LKCSB has been successful at achieving Top 50 global rankings for our thought leadership and our programmes. The re-accreditation demonstrates AACSB’s confidence in the excellent quality of our undergraduate and postgraduate programmes, research impact, and our deep engagement with industry partners. AACSB accreditation is synonymous with high international standards of quality and reaffirms the strong value proposition that we offer to all our students.”

Professor Cheng Qiang, Dean of the SMU SoA, said, “Maintaining the AACSB International accreditation since 2011 is a testament to our university’s and school’s commitment to deliver innovative, engaging and impactful programmes in Singapore. I am proud to share that the review team was impressed with the integration of data analytics and technologies in our Bachelor of Accountancy (BAcc) and masters programmes to prepare our students for the digital future, as well as our strong internship and employment outcomes. I would like to take this opportunity to thank all our faculty and staff for their dedication to the School and for ensuring that SMU is offering accounting education at the highest level of quality.”

Including SMU, there are over 890 business schools in 58 countries and territories that have earned AACSB Accreditation in business. Furthermore, 189 institutions hold a supplemental, specialised AACSB Accreditation for their accounting programmes.

More info on AACSB accreditation can be found here: www.aacsb.edu/accreditation.

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