The American Assembly of Collegiate Schools of Business was founded as an accrediting body in 1916 by a group of seventeen American universities and colleges.[a]:2[page needed] The first accreditations took place in 1919.:2 For many years the association accredited only American business schools, but in the latter part of the twentieth century it advocated a more international approach to business education. The first school it accredited outside the United States was the University of Alberta in 1968, and the first outside North America was the French business school ESSEC, in 1997.
The association struggled with its Council for Higher Education Accreditation recognition in 2016. At a board meeting on January 26, 2015, the council deferred recognition pending satisfaction of its policy requirements. The association withdrew from CHEA recognition on September 23, 2016, in pursuit of ISO certification in order to pivot towards a more global presence.
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