1. What is Programmatic Accreditation?
The most important factor influencing the performance of universities, schools, learning centers, and other educational institutions is quality assurance. Schools are no longer merely locations for receiving education; they must now ensure that they provide instruction that meets the highest academic standards.
Accreditation is a voluntary, nongovernmental procedure that includes a thorough external examination of a college or university’s capacity to provide programs of the highest quality. Self-evaluations, peer-reviews, committee reviews, and the formulation of in-depth strategic plans are all a part of the accrediting process. Accreditation guarantees that students are learning the most relevant information to their field of study, thereby equipping them to be effective leaders following graduation.
Accreditation aims to establish a set of criteria to which all institutions of higher education must adhere, while also encouraging colleges and universities to excel. Accreditation strives, therefore, to assure the accountability of higher education institutions and degree programs in order to increase public confidence. When an institution or degree program is appropriately recognized, students are able to assess the school’s overall quality without undertaking their own in-depth analysis.
Programmatic accreditation aims to assure the public that an academic program has been subjected to a rigorous review process and found to meet high educational quality standards. Accreditation through a specific program relates to a one-degree program. An academic program must be housed at an accredited institution to get it.
Why Programmatic Accreditation of Senior Leader Council?
Senior Leader Council’s accreditation program only applies to institutions that have institutional accreditation and only to Master’s programs. SLC is also the first independent accreditation body dedicated to Master’s programs with accreditation standards issued by the UK government and major UK industry associations.
Which programs could be considered as Finance Programs?
A major in finance can serve as the foundation for a career in the world of money and markets. Learn more about coursework, job prospects for finance majors, and other topics.
If you enjoy working with numbers and money, a major in finance may seem like a natural fit. Yet, finance graduates do so much more. They offer valuable services to corporations, small businesses, non-profit organizations, and individuals in order to assist them in managing a vital resource. Before you can begin advising people on where to invest their money and creating financial projections, you will likely require a degree. Choosing finance as a major could be an excellent starting point.
As a finance major, you study math, economics, and statistics in relation to finance. You can anticipate taking a number of math courses, including accounting, calculus, and business math. These courses lay the groundwork for finance courses covering topics such as valuation, investing, international banking and finance, econometrics, and mergers and acquisitions.
Which jobs that graduated from Master of Finance programs could do?
2. Nature of our accreditation
Senior Leader Council’s accreditation is an independent program-level accreditation based on the European Framework and UK government-recognized professional standards. SLC’s program-level accreditation ensures that the program is compatible with the competency framework for professional positions issued and recognized by the UK government and major UK professional associations.
Senior Leader Council’s accreditation activities are independent, fair, and transparent. Senior Leader Council accreditation is a comprehensive application of the competency framework issued by the UK government but is not an activity carried out by the UK government.
A program that is accredited by the Senior Leader Council is an important demonstration of its quality and effectiveness when compared to its respective position in the labor market. However, accreditation is not synonymous with nor is it an activity that leads to credit recognition when transferring to another education system.
4. Accreditation Standards
The role of Internal Audit (IA) departments is to provide an independent, objective assurance and consulting activity to add value and improve an organisation’s operations. IA helps an organisation accomplish its objectives by bringing a disciplined approach to evaluate and improve the effectiveness of risk management, control and governance processes. Internal Audit has an enterprise-wide mandate, assessing the adequacy and effectiveness of all areas of an organisation. IA is the last line of defense in an organisation and must remain impartial and independent in how it works alongside the organisation.
IAProfs are recognised as experts in risk management, internal audit, governance and control. IAProfs are highly competent professional internal auditors, capable of making a significant contribution to the success and strategic direction of an organisation through being an independent voice to leadership. The IAProf will act autonomously, providing challenging and sometimes provocative insights into risks and internal controls. They act in an independent and objective position at all times, representing the interests of the organisation’s stakeholders and must maintain the highest standards of professional conduct and competency; upholding ethical behaviour and integrity at all times. The IAProf is typically part of an audit team, potentially managing other IAProfs or Internal Audit Practitioners (IAPracs). The IAProf typically reports to the Internal Audit Manager or Head of IA.
The IAProf’s typical responsibilities include:
Managing audit engagements, including: (i)planning engagements, supervising and checking the quality of engagements, communicating results to senior stakeholders, discussing and agreeing remedial actions, and monitoring engagement outcomes; (ii)Critically evaluating the inherent risk and control implications of different business processes; understanding the key risks that may jeopardise the organisation’s strategy and objectives, and developing and delivering a risk-based audit programme to help the organisation succeed; (iii)developing stakeholder relationships and acting as an independent assurer, demonstrating a commercial awareness and critically evaluating the external macro environment to identify the short and long term impact of this on the organisation in order to provide a view of the internal risk and control landscape; (iv)using this information to influence senior stakeholders and shape the Audit Plan; (v)lead and manage projects and investigations as required by senior stakeholders, which adds value and informs change to the internal audit function and wider organisation
IA roles will be found in the public, private and voluntary sectors, where the IA function is acknowledged as a cornerstone of good corporate governance essential to the success of an organisation, as recognised by the UK Corporate Governance Code (or other sector-relevant codes of practice). The profession is overseen by the Chartered Institute of Internal Auditors (Chartered IIA), which sets out guidance and standards on how the profession should manage itself and deliver internal audit services for organisations.
To be accredited, an organization needs to demonstrate that its training program meets the following competencies:
IAProfs understands how to critically evaluate/interpret the internal and wider external (Political, Environmental, Social, Technology, Legal Economic (P.E.S.T.L.E.) environment of the organisation being audited, including the impact of key legislation and regulation on business. IAProfs evaluate ways IA can contribute to success of the organisation and understand key risks to achievement of organisation’s objectives. IAProfs have a solid appreciation of their organisation’s strategy and success measures. IAProfs benchmark the organisation against competitors, and understand IA good practice, current devleopments and emerging risks.
Corporate Governance And Risk Management:
IAProfs understand characteristics of good corporate governance and risk management, the strategic role of IA, including the Audit Committee, within the corporate governance framework and critically evaluate the contribution they each make to organisational effectiveness and assurance. IAProfs aware of strategic risks facing the organisation and will consider strategic and operational risks when creating the annual IA plan.
Organisational Strategy, Structures And Business Processes:
In respect of the organisation’s approach to audit planning and reporting, IAProfs understand risk and control implications of different organisational structures, business processes and IT systems.
Risk And Control / Audit Methodology:
IAProfs know the types of controls to manage these risks, management control techniques, and internal control framework characteristics characteristics (e.g. Committee Organisations Sponsoring Treadway Commission (COSO), International Standards Organisation (ISO), Control Objectives for Information & Related Technologies (COBIT)) used within organisations & industry. IAProfs demonstrate deep understanding of IA methodologies relevant to their organisation/industry, relevant standards in all stages of an IA assignment.
Management / Leadership Principles:
IAProfs understand management skills/leadership styles, conflict management, project management & change management. IAProfs understand how to lead audit assignments.
IAProfs build long-term relationships based on trust and respect, both within IA and with management across the organisation, other assurance providers to inform dynamic changes to IA plan and understand the risk profile of the organisation.
IAProfs communicate clearly and succinctly, both verbally and in writing, turning complex issues into plain language. IAProfs adapt communication to suit situation and audience, promote open communication to gain commitment and action. IAProfs chair meetings effectively to achieve objectives.
Influencing & Collaboration
IAProfs wield influence and motivate others through collaboration to remove organisational barriers, manage conflict, reach consensus and achieve results, and will empower others to achieve outcomes.
Analytical and Problem Solving
IAProfs determine use of data analytics/data extraction software, communicate requirements to others. IAProfs gather necessary facts/evidence to make decisions. Critcally analyse and evaluate information quickly, drawing accurate conclusions, assessing problems from multiple angles, using benchmark data to inform. Apply business intelligence/problem solving techniques, focus on themes/trends; use this information to make informed decisions and judgements.
IAProfs interpret/articulate key risks impacting organisation/wider industry; apply understanding of this wider context to drive audit plan.
Risk and Control / Audit Methodology
IAProfs understand different types of control; management control techniques; internal control framework characteristics (e.g. COSO, ISO, COBIT, etc.) used in organisation/industry. Apply different types of IA methodologies and standards through all stages of an IA assignment.
IAProfs lead/manage audit assignments allocating resources/delegating work; applying management skills/leadership styles, conflict management, project management & change management skills to deliver quality work within budget and timeline. IAProfs deliver a level of oversight/supervision to manage others, delivering assurance to conform to the IIA standards. IAProfs are fundamental in developing and applying quality assurance and improvement programme and continuous improvement. IAProfs support delivery of IA observations, implementation of follow-up programmes and reporting for IA management to deliver at the audit committee.
IAProfs act as role models; motivate others to deliver results, create environment to encourage creative thinking & manage through others to deliver results. IAProfs develop potential of others supporting their career aspirations through feedback/ coaching, supporting well-being of others.
Systems and IT Skills
IAProfs effectively use business systems/software to deliver IA outcomes e.g. sending emails, using word processing and spreadsheet software, work papers etc. to get the most out of their role.
Ethics and Integrity
IAProfs act with integrity and within the ethical code of conduct of organisation/auditee, acting as a role model; they will demonstrate organisational values in how they work¸ confidentiality, and independence and objectivity
Adds Value/Continuous Improvement
IAProfs apply their knowledge of the organisation and wider context to identify improvements/opportunities to meet objectives/deliver on promises/live values, enabling the organisation to better serve its customers and grow its business.
IAProfs take responsibility for own/audit team’s professional development by seeking out opportunities to learn and grow, and are mindful of others well-being, encouraging resilience
Proactive and Adaptable
IAProfs are proactive; able to think ahead to adapt their approach to manage conflicting priorities as circumstances and priorities change. IAProfs have an open mindset; role model for change.
IAProfs demonstrate an attitude that includes a challenging mind and being alert to conditions that may indicate possible misstatement of information due to error or fraud. IAProfs will be able to speak out courageously in their own organisation.
5. Our Accreditation Process
1. Preparation and Self-Examination
The college, university, or other institution seeking accreditation develops materials that successfully demonstrate its accomplishments. Frequently, the institution creates a written report of its successes, highlighting specific achievements that help it meet the accreditation agency’s standards.
2. Peer Review
After formal documentation has been presented, administrative and academic peers conduct a thorough assessment of the prepared materials, written report, and
3. Visit and Examination
Senior Leader Council will send a team of specialists to the college, university, or institution seeking accreditation after the peer review has been completed. This team is frequently comprised of peers and members of the community who provide their time to ensure that high-quality education standards are met.
4. A Decision is Reached
After the preceding steps have been completed, the accrediting body asks its commission to review the collected data and either grant or deny accreditation status to the college, university, or institution under investigation.
5. Continuous Review
By gaining accreditation from Senior Leader Council, a college, university, or other institution pledges to uphold the organization’s quality requirements. Additionally, the accredited college, university, or institution commits to submit to periodic accreditation renewal reviews. Due to this structure, certification is frequently a continuing process, and institutions must annually demonstrate that they meet high educational quality criteria.