Two publications in a span of one year (Wall Street Journal, 14 October 2015, and New York Times, 20 October 2016) shook the world of accreditation. They literally rejected the nearly-a-century-old system of quality benchmarking widely practised in the world’s best business schools accusing them of connivance and cartelisation to help the colleges and universities accredited by them to qualify for state funding and academic support. wsj’s editorial accused accreditation agencies of forming a cartel among themselves to decide on what should be the definition of quality in mba education. And, New York Times, quoting the high profile Senator Marco Rubio (Republican Party’s Presidential runner-up), saw red in the sudden collapse of two accredited colleges, Corinthian Colleges and itt Technical Institute. It blamed the accreditation agency – Accrediting Council for Independent Colleges and Schools (acics) – the nation’s largest accrediting body for-profit schools which eventually led to the starting of the process of winding up of this agency – the first such decisive action against any agency in a century of accreditation practice.