The BAC-FAA Joint Accreditation combines the strengths of two leading quality assurance agencies to offer accreditation for an institution as well as programme-specific accreditation for its finance-related programmes.
The foundation of successful institutes of higher education are conducive and supportive learning environments as well as high-quality, results-driven learning programmes. Institutions awarded the BAC-FAA Joint Accreditation can assure their students they are capable of delivering the skills and knowledge needed to succeed in the workforce.
The BAC-FAA Joint Accreditation is the first of its kind and the highest mark of quality for institutes of higher education offering finance-related programmes.
Institutional accreditation assesses the overall quality of the isntitution in the following areas:
- Governance, Strategy and Financial Management
- Academic Management and Administation
- Teaching, Learning and Assessment
- Student Recruitment, Support, Guidance and Progression
- Premises, Facilities and Learning Resources
- Quality Management, Assurance and Enhancement
Programme accreditation looks into the structure, content and delivery of learning through the following dimensions:
- Learning Programme Rationalisation
- Competency Fulfilmnent
- Learning Programme Structure
- Learning Programme Delivery
- Learner Assessment
- Learning Programme Recognition
Any institution offering finance-related programmes which has a formal recognised relationship with a higher education institution and meets the BAC Standards and FAA Learning Criteria are eligible to apply for the BAC-FAA Joint Accreditation provided they meet the following criteria:
- The institution is licensed by a local, regional or national licensing agency, if such licensing is mandatory or holds accreditation from a nationally-recognised educational or professional body.
- The institution offers teaching in English.
- The institution predominantly teaches learners aged 16 or over.
- Effective control of the institution is the responsibility of an accountable management.
- The institution is led by a proprietor or designated principal/director, who must have clear contractual responsibilities for the running of the institution and for the quality of its work.
- There are no grounds for believing the proprietor, principal/director or any other senior manager to be unfit to have responsibility for the institution.
- The institution has provided a relevant education programme for a minimum period of two years. Exceptionally, BAC may approve accreditation at an earlier date, although this would normally only be available to institutions which are part of a larger organisation which itself meets the above requirements.