Articles about accreditation have moved to the front pages of newspapers, and the supposed shortcomings of accreditation have become the subject of national reports and federal legislation and regulations. All this attention reflects a shift in the role accreditation is now being expected to play as an agent of public accountability for higher education. That shift could significantly affect governing boards, which are responsible for assessing the effectiveness of their colleges' educational programs as well as for ensuring that their institutions earn the right to freedom from government intrusion. Boards can ensure their institutions are more publicly accountable by attending to the retention and graduation of students, moving beyond reputational and selectivity characteristics to define quality, and understanding the changes that are occurring with their institutions' accreditors. As accreditation becomes a key agent of improved quality and accountability in higher education, it will be important for the accreditation process to continue to respect institutional diversity and mission, while holding to high standards. Accrediting organizations and institutions must seize the opportunity to preserve and increase reliance on self-regulation and improvement, rather than allow federal mandates to control higher education's future.