Final answer:
Accreditation is the process by which an outside agency evaluates an institution or program against established standards to ensure quality and reliability.
Step-by-step explanation:
The process called when an outside agency evaluates and judges how well an agency meets certain standards set by the accrediting organization is known as Accreditation. This process serves as a stamp of approval, indicating that the program or institution has been diligently evaluated and meets the criteria for a quality process, adequate resources, and an appropriate curriculum. For example, engineering programs may be accredited by organizations like ABET, which ensures they meet specific educational and professional standards. An accreditation is crucial as it assures stakeholders of the quality and reliability of the services or education provided by the accredited entity.