There are two main forms of accrediting bodies: professional accreditation and sanctioning accreditation.

A professional accreditation signifies merely that the institution meets the requirements of an educational institution. A professional accreditation does not allow credits from that institution to be accepted, necessarily, at other institutions. The Council for Higher Education Accreditation (CHEA) can recognize professional accrediting bodies in the US. This is the case for ACICS, AACSB, and ACBSP. Also the regional accrediting organizations are recognized by CHEA.

Accreditation from a sanctioning accrediting body means that the institution meets a high academic standard and that credits from that institution must be accepted at other institutions. The US Department of Education (USDE), in turn, sanctions such accrediting bodies in the US. Regional accreditors, like the Middle States Commission on Higher Education, are generally recognized by the USDE.

The Bologna Accord, signed in June 1999, is an important step towards achieving standardization and mutual transferability of credits and recognition of degrees in Europe. Swiss accreditation (OAQ) complies with the rules of the Bologna Accord.