Accreditation has never been an effective regulator. It has failed in the USA, the UK and Australia.
Accreditation was not designed to be a regulator, was not intended to be a regulator and between 1997 and 2014 the agency insisted it was not a regulator – although everyone else knew it was a central part of the regulation that government and industry boasted of. As the criticisms show accreditation and regulation are incompatible.