One of Australia’s largest University faculties, Monash University’s Faculty of Business and Economics, has earned accreditation with AACSB International (AACSB), the longest serving global accrediting body for business schools that offer undergraduate, masters, and doctorate degrees in business and accounting.
The AACSB accreditation has been awarded to the University’s Victorian-based campuses as well as to Monash’s campuses in Malaysia and South Africa.
It is the first time an Australian University has earned AACSB accreditation inclusive of multiple international campuses.
The AACSB is the jewel in the crown of accreditations for the Melbourne-based campuses, adding to recognition by EQUIS (European Quality Improvement System) and AMBA (Association of MBAs), and it places the faculty in the elite company of the business education providers in the world with ‘triple crown’ accreditation.
Monash University Vice-Chancellor, Professor Ed Byrne has extended his congratulations to the faculty.
“This achievement is to be commended. A great deal of work went into this, and as we know, accreditation with an organisation like AACSB can take years. This is a great day for the faculty and the University as we now look to build on this success,” Professor Byrne said.
Monash University is the only University within the prestigious Group of Eight to have achieved ‘triple crown’ accreditation for its Melbourne-based Business and Economics faculty.
Dean of the faculty, Professor Colm Kearney said today’s announcement is a significant achievement.
“AACSB accreditation is a milestone for the faculty and the University. We have worked incredibly hard to achieve this, and we will work equally hard to retain it, because the benefits are much more widely distributed than just our team,” Professor Kearney said.
“Education is Victoria’s largest service export at around $4.4 billion per annum. Monash University is a significant contributor to this. The fact that the Faculty of Business and Economics continues to add to its success on the global stage benefits the University, the higher education sector, and the Victorian economy.
Our goal is to be amongst the best business and economics education providers in Australia and the world. We are ranked number one in the Asia-Pacific region in a number of our business discipline areas, and our ‘triple crown’ accreditation now places us among the 60 business schools in the world with such global recognition – this equates to less than one per cent of business schools. This is something we can be very proud of.”
Deputy Dean (External and International) Professor Keryn Chalmers said the AACSB announcement means the whole of the University’s international business education presence will benefit.
“The faculty’s business programs are offered at campuses in Malaysia and South Africa and we are delighted that these campuses also received the accreditation. It value-adds to our status as a leading global provider of business education and enhances our position as we strive to become even better,” Professor Chalmers said.