Kentucky's accountability system includes a school-processes audit known as Standards and Indicators for School Improvement (SISI), which is in a nascent stage of validation. Content validity methods include comparison to instruments measuring similar constructs as well as other techniques such as job analysis. This study used a two-phase process to validate SISI. In Phase One, the SISI were compared to the Interstate School Leaders' Licensure Consortium Standards (ISLLC) in a content analysis. Phase Two used observational and self-report data from ten selected elementary and secondary principals to map their work on both sets of standards. The indicators in SISI proved more descriptive of the observed school improvement and instructional leadership activities of principals than did the indicators in ISLLC. (Contains 2 tables and 1 figure.) [Funding provided by the Wallace Foundation.]