Accreditation is probably one of the most talked about and least understood facets of academia. There are almost as many definitions of accrediting, as there are speeches on the subject. Most definitions come to the same conclusions with perhaps different worth or rearrangement of words. Accrediting is frequently based upon some compromise, whether it is a compromise on the part of those exercising judgment about the accredited status of an institution, or compromise in the selection of those who are delegated the responsibility of making such judgments. In addition to two functions of transferability of credits and encouragement of academic excellence, accreditation serves to protect the public in that it distinguishes good programs from poor programs. Furthermore in certain professions, such as accounting, it may serve as the basis for certification or licensure. The article should also involve a recognized accrediting agency, which in the case of business, of which accounting is a part, is the American Association of Collegiate Schools of Business.

The Middle Atlantic Association of Colleges of Business Administration (MAACBA) has consistently maintained a deep interest in and concern for the practice of public accounting, and the preparation of students therefore. The subject of accountancy preparation has occupied a prominent place in the programs of the Association's meetings. Individual members have rendered distinguished services on boards and committees on a state, regional and national scope. During the past three years, the New York State Education Department has been conducting studies to account for the alleged high rate of failures on the Certified Professional Accountants (CPA) Examinations in this state. One of the proposals arising out of these studies has been the inclusion of a fifth year in the accounting curriculum which would lead to a graduate degree and better prepare a candidate for the CPA Examination. The MAACBA comprises forty-four members, in four states, a Federal District and a Territory, including a wide variety of schools differing in size, organization, control and prestige. Some schools offer both graduate and undergraduate programs, other schools only one program. The Association urges the continuing study of proposals designed to improve the practice of public accounting and all aspects of the preparation therefore.