We examine the soundness of the idea and practice of engineering accreditation and look critically at the process as implemented in regions around the world. Based on our analysis of the effectiveness of current approaches, we suggest areas and methods for improvement and propose guidelines for a revised accreditation framework that addresses some of the challenges of the current system. In addition to providing standardization of course topics and methods for assessing outcomes and curriculum improvement, accreditation requirements could be adjusted to reduce the reporting burden and recognize the need for faculty empowerment and freedom to innovate in motivating and encouraging high quality educational programs.