Institutions of higher learning are facing considerable pressure to make improvements in program performance in order to satisfy accrediting agencies. The driving forces behind the changes include concerns about retention (Wolff & Tinney, 2006), expectations of proof or evidence of student learning (Suskie, 2004), and accountability from educators (Mundhenk, 2005), legislators, parents, and donors (Pringle & Michel, 2007). This is especially true for colleges and schools of business striving to meet changing standards for professional and regional accreditation. The major challenge for many Southern institutions is addressing recent changes in the standards while meeting the requirements for both AACSB and SACS. This paper addresses three critical issues for colleges and schools of business concerning the requirements for regional (SACS) and professional (AACSB) accreditation. First, it summarizes the major revisions to the AACSB standards for accreditation or reaccreditation. Second, it synthesizes the areas of agreement and disagreement for AACSB and SACS requirements. Third, it discusses best practices for colleges and schools of business to meet the standards for both agencies.