The Foundation for International Business Administration Accreditation (FIBAA) is recognised accreditation body in all German speaking countries (Germany-Switzerland-Austria), FIBAA was founded in 2002 to accredit schools of business. Since the launch of the European Bologna Process, along with the transition to bachelor's and master's programs and the growing independence available to higher education institutions (HEIs) in designing their degree programs, the call for the HEIs to establish and advance sound and transparent quality assurance systems has grown continuously.