Ensuring a nation's capacity to compete in today's knowledge based economy (KBE) has placed increased attention on each nation's higher education systems. In order to maintain or develop a highly skilled and qualified workforce, governments must ensure that students have access to higher education. Those responsible in postsecondary education institutions must ensure that the curricula offered in varied programs of study provide students with opportunities to strengthen and further develop the knowledge, skills, and competencies essential for success in current and future labour markets. Considering the globalization of labour markets, Governments must also ensure that, through assessment of the knowledge, skills and competencies of their students, they can provide accurate reports and appropriate recognition in documents that describe in commonly accepted terms the graduates' competencies. It is the identification, measurement, and designation of qualifications that inures transparency of the credential to the benefit of the students/graduates and their institutions, as well as to future national and international employers.