What is an accreditation agency or association?

According to the Department of Education, accrediting agencies are "private educational associations of regional or national scope that develop evaluation criteria and conduct peer evaluations to assess whether or not these criteria are met." Primarily, an accreditation agency or association is responsible for granting accreditation to institutions, schools and degree programs, in addition to publishing the names of accredited institutions for the public. The accrediting agency is responsible for regularly monitoring the institutions it accredits and for following up on any complaints regarding whether an institution has failed to adhere to the agency's criteria and standards.