This paper examines an assessment process within the context of quality, accountability and institutional effectiveness in academia. Considered as one of the most important elements in higher education, the assessment process plays a significant role in contributing to holistic quality as well as the performance of an academic institution. As a result, appropriate requirements need to be established, applied consistently and communicated effectively among different groups of stakeholders. The lack of a systematic approach in this matter as well as the lack of specific performance measures of the assessment process shape a false image of students', and consequently, graduates' academic capacity.