34 C.F.R. § 602.15 Administrative and fiscal responsibilities.
Title 34 - Education
The agency must have the administrative and fiscal capability to carry out its accreditation activities in light of its requested scope of recognition. The agency meets this requirement if the agency demonstrates that— (a) The agency has— (1) Adequate administrative staff and financial resources to carry out its accrediting responsibilities; (2) Competent and knowledgeable individuals, qualified by education and experience in their own right and trained by the agency on its standards, policies, and procedures, to conduct its on-site evaluations, establish its policies, and make its accrediting and preaccrediting decisions; (3) Academic and administrative personnel on its evaluation, policy, and decision-making bodies, if the agency accredits institutions; (4) Educators and practitioners on its evaluation, policy, and decision-making bodies, if the agency accredits programs or single-purpose institutions that prepare students for a specific profession; (5) Representatives of the public on all decision-making bodies; and (6) Clear and effective controls against conflicts of interest, or the appearance of conflicts of interest, by the agency's— (i) Board members; (ii) Commissioners; (iii) Evaluation team members; (iv) Consultants; (v) Administrative staff; and (vi) Other agency representatives; and (b) The agency maintains complete and accurate records of— (1) Its last two full accreditation or preaccreditation reviews of each institution or program, including on-site evaluation team reports, the institution's or program's responses to on-site reports, periodic review reports, any reports of special reviews conducted by the agency between regular reviews, and a copy of the institution's or program's most recent self-study; and (2) All decisions regarding the accreditation and preaccreditation of any institution or program, including all correspondence that is significantly related to those decisions. (Authority: 20 U.S.C. 1099b)
Title 34: Education
PART 602—THE SECRETARY'S RECOGNITION OF ACCREDITING AGENCIES
Subpart B—The Criteria for Recognition
Organizational and Administrative Requirements
§ 602.15 Administrative and fiscal responsibilities.

