All ACICS-accredited institutions are required to submit an Annual Financial Report (AFR), Ownership/Control Disclosure Form, and audited financial statements 180 days following the end of the institution's financial year. The requirement exists for all institutions without regard to the type of corporation that owns the institution (profit or not-for-profit) or the location of the institution (domestic or international). Likewise, any deadlines, extensions, or requirements established by other accrediting bodies or agencies do not change the Council’s requirements. The AFR must be submitted online.
All ACICS accredited institutions should submit to the Council an audited financial statement that includes the U.S. Department of Education’s financial ratio composite score. Institutions are required to submit an Income Statement (Part 1 of the Annual Financial Report) for each main campus and additional location.
The Council will accept, in lieu of the Balance Sheet (Part 2) of the Annual Financial Report, each institution’s audited financial statement that includes the institution’s U.S. Department of Education financial ratio composite score.
You must submit the Annual Financial Report, the Audited Statements and the Ownership/ Control Disclosure Form for each main campus and additional location to ACICS.