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The EFMD Quality Improvement System (EQUIS) is a school accreditation system. It specializes in higher education institutions of management and business administration, run by the European Foundation for Management Development (EFMD). As of June 2017, EQUIS has accredited 172 institutions in 41 countries around the world.
EQUIS was created in 1997 under Gordon Shenton and the current directors are Ulrich Hommel and David Asch. In the past 20 years of existence the organization has accredited 172 institutions in 41 countries.
The accreditation is awarded to business schools based on general quality. The process also takes into account the business school's level of internationalization, which is not a strict requirement for accreditation by the other two major international accreditation bodies: AACSB and AMBA. So far, all fully accredited EQUIS business school,s applying for AACSB accreditation have succeeded, which has not been the case the other way.
EQUIS accreditation can be granted for three years (with annual progress reports on the areas of improvement required) or for five years (with a mid-term progress report on development objectives required).
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