This report presents the results of a review of the costs and benefits of specialized accreditation of higher education institutions and programs. The review surveyed 110 programs in 6 disciplines (business, engineering, interior design, nursing, physical therapy, and teacher education) at public and private community colleges, colleges, and universities throughout the state. It asked program and institutional administrators to identify both positive and negative effects of accreditation and the accrediting process. The report recommends that: (1) institutions should balance the costs and benefits of specialized accreditation; (2) the review cycle for state review of institutions be lengthened; (3) specialized accrediting agencies coordinate the timing of their re-accreditation visit with state reviews; (4) state agencies and accrediting agencies work together to implement visit-by-exception models of accreditation; (5) accrediting agencies broaden their governance structure to include representatives of other disciplines, employers of program graduates, and the public; and (6) the recognition and approval of specialized accreditation agencies be contingent upon evidence of broad governance. Four appendixes provide information on accredited and non-accredited programs in the six disciplines, a copy of the survey form, relevant Florida statutes, and the accreditation status of University of Florida colleges. (MDM)