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International recognition

Since December 2012, the Faculty of Economics of the University of Liechtenstein has been a member of the two renowned accreditation organizations AACSB International and EFMD. This is a further step forward for the university in terms of international recognition for its high standards.

Since December 2012, the Faculty of Economics of the University of Liechtenstein has been a member of the two renowned accreditation organizations AACSB International and EFMD. This is a further step forward for the university in terms of international recognition for its high standards.

For universities, accreditations are an important quality assurance tool. Independent organizations, mostly non-profit organizations, assess the quality of the teaching and studies. This, in turn, improves the international comparability of university degrees and increases the transparency of the individual programmes.

Praise and motivation

Klaus Näscher, Rector of the University of Liechtenstein, is pleased about the membership of these international networks. “For us, it is both an honour and an incentive to keep working on what we do. It makes us part of a worldwide community dedicated to educating the managers of tomorrow.” Membership of the two organizations is a prerequisite for subsequent accreditation.



What is AACSB International?

AACSB International, the Association to Advance Collegiate Schools of Business, accredits the best business and accounting programmes in the world. The non-profit organization was founded in St Louis, USA, in 1916. One of the founding members was Harvard University. The organization now comprises over 650 accredited institutions in around 50 countries. Three universities in Switzerland have met the prerequisites for AACSB membership, including the universities of St. Gallen and Zurich. 

What is EFMD?
EFMD, the European Foundation for Management Development, based in Brussels, is seen as the European equivalent of the AACSB. The organization accredits business schools and individual management training programmes. It now has more than 760 members in around 80 countries around the world. One of the most famous members is the London School of Economics and Political Science. 



Significance
In December 2011, the Swiss Center of Accreditation and Quality Assurance in Higher Education (OAQ) certified that the University of Liechtenstein fulfilled the Swiss quality criteria (background information). Membership of the two networks, AACSB and EFMD, is a further step towards international accreditation.