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"We are proud to join the elite group of business schools around the globe that have met the high standards set by AACSB,” Professor Cogin said.

"This accreditation recognises ACU's commitment to harness the power of business to advance community wellbeing, creating opportunities for people and communities to flourish.”

Less than six per cent of business schools worldwide have earned AACSB accreditation.

AACSB Executive Vice President and chief accreditation office Stephanie M. Bryant said the accreditation recognised institutions that have demonstrated a focus on excellence in all areas, including teaching, research, curriculum development, and student learning.

“Australian Catholic University’s commitment to earning accreditation is a true reflection of their dedication - not only to their students, alumni network, and greater business community, but to the higher education industry as a whole,” said Ms Bryant.

“Today’s students are tomorrow’s business leaders, and the addition of Australian Catholic University to the network of AACSB-accredited business schools will have a lasting positive impact for their institution, both locally and globally.”

ACU Executive Dean of Law and Business Professor Andrew O’Neil said the accreditation capped off a stellar year for ACU’s business school.

“Our business school is going from strength to strength, with innovative programs, expanded industry partnerships and a strong mission-focus,” Professor O’Neil said.

“We have welcomed a host of new industry-engaged academics, co-designed education programs and research projects with industry partners and are preparing to launch a new future-focused Bachelor of Business.

“It’s an exciting phase in the growth of the Peter Faber Business School.

“ACU offers a unique proposition for students who want to use their business degree to build a more sustainable and inclusive society.”