1. AASBI was founded by Canadian, Chinese, French, German, Italian and US university professors of accounting, finance, marketing, management, VP of Administration and CPAs as a straight-forward and unbureaucratic alternative to the mainstream mass-accreditation bodies's unreasonably heavy, restrictive, costly and time-consuming requirements, setting their own new and holistic Generally Accepted Educational Principles GEAP and Generally Accepted Educaional Standards on Auditing GAESA, accrediting qualified, reputable and safe schools of business in free and democratic countries worldwide.

2. AASBI was incorporated in the State of Delaware, entity file number 4943328, 22nd February 2011 as the Asian Association of Schools of Business International, and renamed in 2014 as Association of Accredited Schools of Business International LLC.

Prescreened and invited Schools of Business follow the abbreviated process as outlined in the invitation letter. If your School wishes to be prescreened and invited, please write us a detailed request. Other institutions applying on a regular basis follow the processes below:

3. The applying school of business files a Letter of Application together with Checklist and Affirmation PDF.

4. Unless exempt from audit, the remaining AASBI accreditation process follows the proven pattern for financial statement audits of public companies by engaging a professional audit firm to audit the school's "Statement of Educational Conditions" — see sample — prepared in accordance with the AASBI's Generally Accepted Education Standards (GAEP) and form an opinion thereon.

5. The AASBI's educational auditing standards (GAESA) have been modeled after IFAC's International Standards on Auditing, are therefore familiar to the financial audit profession, and should be performed in conjunction with the school's annual financial statement audit to minimize cost and expense.

6. Certain business schools have been invited to full accreditation on an expedited basis, and are exempt from audit, by providing alternative assurances deemed sufficient in the opinion of the AASBI. See Offer of full accreditation AASBI's letter dated 6 September 2014 — Annual Dues Table.

7. AASBI business school accreditation is treated more as a matter of right in the public interest than joining a fraternity of elite Schools and Colleges. Accordingly, AASBI has reduced to simplicity what is often a highly complex and time consuming process.

8. The business schools' visibility, prestige and reputation is enhanced by AASBI's accreditation, based on the adherence to generally accepted educational standards (GAEP) and the educational audit by licensed auditing firms under rigorous auditing standards (GASESA).