Universities must meet a sufficient standard set by accrediting organizations both in the general school and program levels. The variables for the standards are mostly qualitative -- expert knowledge of the faculty, testing processes and university and program accomplishments. This information is prepared by the university beforehand to present all the details of the program, but some accrediting officials might randomly choose a class in which to sit to see the school's academic process first hand.
Academia is based on the pursuit of further knowledge and self-education. As such, this quality is the basis used by accrediting organizations in measuring a school's strive for improvement. These can be done in peer reviews between the faculty and accreditors after the university visit. Moreover, part of the factors for this score is the ability of the school, on its own accord, to recognize its own weaknesses, points of improvement and the ability to develop a solid plan to remedy its shortcomings.
Much like any other organizational review, universities are expected to have a fair decision-making system complete with impartial processes and clear checks and balances. These policies must apply to all important areas of a school's function, including admissions, course requirements and faculty tenure decisions. Universities are expected to explain their processes in detail to an accrediting agency and answer scrutinizing questions with a sufficient level of organizational transparency.
Accreditation is only awarded to schools expected to be able to financially operate and improve in the next one to three years. This criteria can be fulfilled by the donations of their alumni networks, accurate enrollment income data, annual expenditures and other financial sources of income. These sources of income have to be predictable and stable to be considered for accreditation. Universities do not necessarily have to be fully self-sustaining, but can show that they are able to maintain operational levels without a significant need of government and external financing.