I. Accreditation Comprehensive Review Result
1. Accreditation Review Result
ABEST21 International Accreditation Result of ABEST21 International Accreditation Result of Bachelor of Accounting Program, Faculty of Economics and Business, Perbanas Institute Jakarta, Indonesia is as follows:
“ABEST21 International certifies that the School’s educational and research activities generally satisfy accreditation standards. The School’s Kaizen plans are good and quality maintenance and prospects for the improvement of education and research are promising and good. Accreditation commences April 1, 2024 for a five-year period.”
2. Comprehensive Review
1) Globalizing the School’s/Faculty’s Research and Education
The Faculty has taken steps toward globalizing its research and education, including getting accreditation from CPA Australia, student participation in international competitions and exchange programs, and teaching and research collaborations with foreign universities. However, the Faculty needs to increase the number of students, faculty and international partners involved in the globalization initiatives to enhance the globalization of its research and education.
The Learning Outcomes:
The Faculty should develop clear Learning Outcomes related to the provided vision, and communicate these to stakeholders.
The CPA Australia:
The Faculty should show the ratio of students who can obtain CPA Australia and students who study in the BA program.
The Faculty should explain the real situation concerning the utility of CPA Australia for the students who plan to work inside the country. The Faculty should explain why students do not need it inside the country working, and what benefits CPA Australia gives to the students.
The Effective of Collaboration:
The Faculty should show the effectiveness of faculty research collaborations with foreign universities including opportunities and threats found.
The International Atmosphere and Multicultural Environment:
In addition to teaching English and activities in English, the Faculty should explain how it provides an international and multicultural environment for learning.
2) Humanizing the School’s/Faculty’s Research and Education
Firstly, the aim of the humanizing program which has been implemented by the Faculty of Economics and Business together with the Bachelor of Accounting Study Program is to nurture students who know and understand various cultures and views. In addition, the Faculty has implemented Organizational Management Training (LMO) to develop students’ leadership skills. Besides, Perbanas Institute also provides health facilities that can be used by the campus academic community in the form of a Clinic Center along with Health Workers such as Doctors and Medical Personnel. Although these are good programs, the Faculty needs to evaluate the effectiveness of the program and to enhance further in humanizing its research. There is also limited evidence that the Faculty has created research programs and community activities for humanizing its community. The Faculty should explain how it creates the student-oriented learning program for humanizing its community focus.
3) Collaborating with industries in the School’s/Faculty’s Research and Education
The Faculty has established collaboration with various national and international professional bodies to continuously improve the curriculum. The Faculty also has a good engagement with corporations and the finance industry to ensure sufficient internship placements for students.
The Faculty should demonstrate the effectiveness of collaboration efforts concerning program design with IAI, including opportunities and threats found. The Faculty should demonstrate the important reflections from the collaboration with the business, especially concerning research and student experience, which are applied in the curriculum improvement.
3. Compatibility with the ABEST21 Standards
Chapter One: Internal Quality Assurance and Management
- Standard 1: Academic Unit Management
- Standard 2: Governance System
- Standard 3: Self-Check/Self-Evaluation
- Standard 4: Staff-Development
The academic unit management of the Faculty is appropriate and sufficient to support its function as an education and research organization. The Faculty has a proper governance system to manage the administrative system and the educational and research environment.
Overall, the Faculty has a system for self-evaluation. However, the Faculty needs to address the following areas of concern.
How does the Faculty apply information technology system or data in the Internal Quality Assurance and Management? Please explain clearly how the Faculty conducts an external evaluation of its educational and research activities systematically and periodically. Explain how Tracer study is used in the PDCA process and why it has not been carried out optimally in curriculum development programs. Staff development such as English training is one of the important agendas for the Faculty. However, it is still at the early stage and the effectiveness of the program is still unknown. Therefore, the Faculty should plan a more comprehensive approach in staff development to support its globalization agenda.
Standard 1: “Academic Unit Management”
The Faculty should explain how it applies information technology systems or data-driven Internal Quality Assurance and Management. It should explain what issues the Tracer report found. Please show the factors that prevent education from being used optimally in curriculum development and reasons.
Standard 2: “Governance”
The Faculty should show the participation of stakeholders in management system and the educational and research environment improvement related to the governance system.
Standard 3: “Self-Check/Self-Evaluation”
The Faculty should explain how the quality is enhanced by using the PDCA cycle and examine what has not been optimally implemented.
Standard 4: “Staff Development”
The Faculty should show how it plans to further enhance the staff’s English language skills in addition to English language training. The Faculty should show how it plans to motivate the staff’s development for global communication. Please explain more about planning a comparative study abroad program for the management of the children related to the development of the “globalizing economy, society and culture”.
Chapter Two: Mission Statement
- Standard 5: Mission Statement
- Standard 6: Financial Strategies
There are no major issues with the Faculty’s mission statement. However, the Faculty needs to show how it prepares graduates who have a global perspective through the mastery of Information Technology in the field of accounting.
Firstly, what is the Faculty’s definition of mastery of Information Technology? Secondly, what strategy was planned and implemented in carrying out this mission. The Faculty should also widen the scope of community involvement, not only to serve the industry, but also other communities in general.
Financially, the Perbanas Institute is under the full support of the Perbanas Education Foundation (YPP) as an Institution for the National Bank Association. Additional sources of funds come from tuition fees, as well as from external funds which consist of endowments, research grants and sponsorship programs. With this strength, the Faculty should allocate more resources to support their globalization agenda.
Standard 5: “Mission Statement”
The Faculty should explain who will be in the advisory board. And how do they represent the stakeholders to provide adequate feedback on the Faculty’s competitiveness.
Standard 6: “Financial Strategies”
The Faculty should show its short-term and long-term financial strategies to secure adequate budgets necessary for realizing its mission statement.
Chapter Three: Curriculum
- Standard 7: Learning Goals
- Standard 8: Curriculum Policy and Management of Curriculum
- Standard 9: Quality Improvement of Curriculum
- Standard 10: Online Education
- Standard 11: Diploma Policy and Learning Outcomes
- Standard 12: Globalization of Curriculum
There are no major issues with the learning goals as the learning achievement is demonstrated by the graduates of the Bachelor of Accounting study program who work as Company Accountants in both the private and government sectors and as Public Accountants (Auditors). The goals have been formulated by the help of Institute of Indonesia Chartered Accountants (IAI), which is based on International Education Standards (IES). These goals are also well documented in the curriculum book.
Mostly, the curriculum policy and management of curriculum are appropriate. However, the review and updating process should be done with certain frequency and interval. Besides, all relevant stakeholders should be invited during the process. There are no major issues with standard 9 on quality improvement of curriculum as the faculty has a system to support the learning process, e.g. Academic Portal and E-Learning. However, it is not adequately explained how the system helps the quality improvement of curriculum. To support education online, the Faculty has portals and mobile applications that enable e-learning and hybrid learning. However, it is not clear how the Faculty evaluates the quality of online education. The globalization of curriculum is still at the early stage. The Faculty should have a very clear roadmap for this standard which includes important milestones and a target to be achieved.
Basically, the Faculty provides financial support on merit base and for those who face financial difficulties. The Faculty may also consider allocating special funds to encourage inbound and outbound students to support its globalization agenda.
Standard 7: “Learning Goals”
The Faculty should explain how learning goals fulfill the learning outcome by being student-oriented.
Standard 8: “Curriculum Policy and Management of Curriculum”
The Faculty should explain why it plans to add international benchmarking partners with Universiti Teknologi Mara (UiTM) as a follow-up to cooperation between tertiary institutions to jointly formulate and refine global scale learning goals.
Standard 9: “Quality Improvement of Curriculum”
The Faculty should explain more how it applies the feedback from stakeholders to address the important issues of curriculum policy and management of curriculum.
Standard 10: “Online Education”
The Faculty is encouraged to keep its strength with Hybrid Learning Methodology.
Standard 11: “Diploma Policy and Learning Outcomes”
The Faculty is advised to facilitate more participation and engagement between Alumni and the Faculty or the University, e.g. Short Courses providing reskill or upskill for management, Accountancy skills, Critical thinking and Problem-Solving Skills, Leadership Skills, or other courses related to learners’ needs.
Chapter Four: Students
- Standard 13: Admission Policy and Student Selection
- Standard 14: Student Encouragement and Support
- Standard 15: Student Body Diversity
The Faculty has set a clear target for the ideal students for its educational program and has set its admission policy for their selection process. The Faculty is aware that due to strong competition, it is unable to achieve the targeted number of international students as well as local students. Therefore, the Faculty should seriously consider a better approach to promote student exchange/mobility as well as attracting local and international students.
Standard 13: “Admission Policy and Student Selection”
The Faculty should explain how it plans to recruit foreign students, and how to communicate directly to the target audience.
Standard 14: “Student Encouragement and Support”
The Faculty is advised to speed up the processes in the learning systems, especially those of grading and responding to students.
The Faculty is advised to design the activities to leverage the strong engagement of students with the Faculty and the university.
Standard 15: “Student Body Diversity”
The Faculty should explain how it plans to nurture the understanding of the cultural differences in their students, and to prepare them for working in the multicultural environment.
Chapter Five: Faculty
- Standard 16: Faculty Structure
- Standard 17: Faculty Qualifications
- Standard 18: Maintenance of Education and Research Environment
- Standard 19: Faculty Development
- Standard 20: Faculty Diversity
The Faculty should design a good succession plan as currently 40% of the faculty members are over 60 years old. A contingency plan should be in place to deal with the big number of retiring staff in a very near future. Overall, the Faculty has a proper support system for faculty development. However, the Faculty should improve the system or process to facilitate more active international exchange and to invite world-class visiting scholars. Right action plans should be in place to ensure sustainability of these programs.
Standard 16: “Faculty Structure”
The Faculty should explain how it plans to recruit the required number of faculty members (61 people) and why it is unable to recruit the required 3 faculty members even though the need for these faculty members dates back to 2020.
Standard 17: “Faculty Qualifications”
The Faculty should explain how to create a reward system that can motivate the faculty members’ achievement related to the Faculty KPI.
Standard 18: “Maintenance of Education and Research Environment”
The Faculty should explain how it maintains an education and research environment based on user needs.
Standard 19: “Faculty Development”
Participatory Creation of Academic Career Growth of Lecturers Related to Faculty KPI.
Standard 20: “Faculty Diversity”
The Faculty should explain how it plans to invite visiting world-class professors or special experts for long-term teaching and research.
Chapter Six : Educational Infrastructure
- Standard 21: Maintenance of Educational Infrastructure
- Standard 22: Globalization of Educational Infrastructure
Overall, the Faculty has an excellent educational infrastructure. However, there is a need for research data providers to support research activities. To support the globalization agenda, it is also recommended to provide facilities such as the dormitory for foreign students and prayer room for non-Muslim students.
Standard 21: “Maintenance of Educational Infrastructure”
The Faculty should elaborate on the strengths and weaknesses of the educational infrastructure for in-class study and self-study that are relevant to both lecturers and students, including systematic and periodic development.
Standard 22: “Globalization of Educational Infrastructure”
The Faculty should provide on-campus accommodations or recommend a choice of accommodations for international students.
4. Good Practice in the School’s/Faculty’s Programs
Title: “Industry supported, internationally accredited accounting program with hybrid learning methodology”
Reason: The Faculty and the PERBANAS Institute are fully supported by the PERBANAS Education Foundation (YPP), an Institution for the National Bank Association. The Bachelor of Accounting program is being accredited by CPA Australia. The students and faculty members are satisfied with the combination of online and face to face learning approach.
5. Matters to be improved
The Faculty should limit and prioritize the issues identified in each chapter to be included in the improvement initiatives for the next 3 years due to time and resource constrains. Furthermore, the focus of the Faculty should be more on improving their globalization and humanization issues. This will enable the Faculty to plan the initiatives in a more wholistic view.
The Faculty is also advised to do the following:
Develop clear Learning Outcomes related to the provided vision, and communicate these to stakeholders. Develop Curriculum and create the learning atmosphere to satisfy students’ needs. Speed up the processes in the learning systems, especially those of grading and responding to students. Design activities to leverage the strong engagement of students to the Faculty and the university. Provide on-campus accommodations or recommend a choice of accommodations for international students. Facilitate more participation and engagement between Alumni and the Faculty or the University, e.g. Short Courses providing reskill or upskill for management, Accountancy skills, Critical thinking and Problem-Solving Skills, Leadership Skills, or other courses related to learners’ needs. Participatory Creation of Academic Career Growth of Lecturers Related to Faculty KPI. Participatory creation of KPI for each activity provided related to the action plan to evaluate and see the trend of development.
6. Peer Review Schedule
ABEST21 assessed the School’s ABEST21 Management Accreditation by conducting substantial assessment on “Self-Check/Self-Evaluation Report (SCR)” by the Desk Review and the online Peer Review Visit according to the Review Schedule below.
- Jun.29, 2022 : Acceptance of the “QIS”
- Oct.12, 2022 : Online Interview
- Nov.24, 2022 : Ratification of the “QIS” by the Peer Review Committee
- Jun.29, 2023 : Acceptance of the “SCR”
- Sep.26 and 27, 2023 : Online Peer Review Visit
- Oct.26, 2022 : Informal Announcement of the Draft of the PRT Review Report
- Oct.26-Nov.20, 2023 : Coordination of opinions between the PRT and the School
- Nov.28-29, 2023 : Ratification of the “PRT Review Report”
- Jan.16, 2024 : Recommendation of the Accreditation Committee
- Feb.21, 2024 : Ratification of the ABEST21 Accreditation by the Board of Trustees