What is accreditation? Why is it so important to have them in investment funds for accredited investors? First of all it is important to understand what makes someone accredited and why it is so important for the market as a whole, whether we are talking about companies or simple persons.
A accreditation is a formal way to recognize institutions that have safe and quality processes and when it comes for people it is the same as saying that companies can trust that person, whether because he or she has good credit or because of other good practices. An outside firm, independent and specialized (the believer) impartially evaluates the health service (hospital, clinic, laboratory, for example) based on a script and trained technical staff and then say whether or not it can be accredited, for example. That is the same for accredited investors.
However, going through the accreditation process is not limited to the evaluation stage: for institutions and in some cases, for people, that undergo this process, the road is long and should be a strategic decision. To comply with the minimum requirements and evaluated in the script, the institution needs to prepare, which takes several years and involves the review of processes and changes.
Wow, you are accredited and so what now?
Once accredited institution receives a recognition label which is variable and less than 5 years validity (lifetime is none). Upon expiration, the institution needs to bypass the evaluation process if you want to renew the seal. If you have doubts regarding this contact San Francisco investment funds for accredited investors. More details here.
What is the difference between accreditation and certification?
Both in the accreditation process and certification in the institution undergoes an external evaluation of its processes and / or structure. But there are differences! Let´s understand with the example of hospitals.
Situation 1: A hospital has set up a Standard Operating Procedure (SOP) for administration of drugs in patients. To verify or prove that this is happening, the hospital hires a firm to audit the process. If so, the process is certified. The most common example of certification are the ISOs.
Situation 2: A hospital, according to the requirements described in accrediting the script of your choice, you need to show how their processes are structured to improve patient safety. During the audit, presents a POP on the administration of medicines and demonstrates how this fact POP increases security (indicators, scientific references, etc.).
Certification, the institution born speak as does one thing and proves that is always so. Do always the same does not necessarily mean having good results. Certification of logic, you can always make flat tires equally through a process of drawing error with faithful execution. In the accreditation, a specialized company establishes quality standards and health institution shows how it is to always meet this standard and how seeks continuous improvement of its processes.
Who can undergo an accreditation process?
If you would like to deal with investments then what you need is to contact San Francisco investment funds for accredited investors!