Quality assurance in higher education has become a global activity. In the European Higher Education Area, cross-border quality assurance has been heavily encouraged by the European Commission. Behind this, lies the belief that encouraging competition among quality assurance bodies and introducing a liberal 'market' logic into the sector would result in a better overall quality of higher education. However, some critical voices have pinpointed possible risks of this practice. This calls for a better understanding of the actual implications of cross-border quality assurance. Using a purposely chosen case study, this article reflects on the risks and benefits of cross-border quality assurance in Europe. The case study involves the accreditation in the engineering sector in Belgium by a French accreditation agency, in partnership with a Belgian agency. Benefits and challenges of cross-border quality assurance are identified, as well as several key lessons for quality assurance bodies involved in this type of activity.