LUSM officially launched the AACSB accreditation in June 2017 and the eligibility application was successfully received by the Initial Accreditation Committee (IAC) in November 2017. In May 2018, the AACSB mentor visited LUSM. In November 2019, the School's initial Self Evaluation Report (iSER) was officially approved by the IAC, and its iSER update report was officially accepted in Nov. 2020 and 2021 respectively. The School submitted its application of initial accreditation in January 2022 and conducted its initial accreditation visit in April 2023. With the official approval of IAC and the ratification of AACSB Broad of Directors, the School has been granted AACSB accreditation in July 2023.

In November 2014, the MBA program of Lanzhou University was accredited by the Association of MBAs. LZU has become the 22nd university of mainland China and the first university of the five Northwestern provinces which is accreditated by AMBA. In 2017, LZU has acquired the five-year AMBA re-accreditation.

In 2022, LZU has been granted AMBA re-accreditation for another five-year validity without conditions.

In January 2020, LUSM has been accepted into the Business Graduates Association (BGA) as a Bronze Member. BGA is an international membership and quality assurance body of world-leading and high-potential Business Schools who share a commitment for responsible management practices and lifelong learning, and are looking to provide positive impact on their students, communities, and the economy as a whole.

In 2022, jointly assessed with AMBA, LUSM has also been granted the five-year BGA accreditation (Gold Status).

In January 2018, LUSM signed on to the Principles for Responsible Management Education (PRME) of UN Global Compact.

By signing PRME, on one hand, LUSM could facilitate its featured management education with leadership and social responsibility, keep its education on the excellent level, and share the achievements and experiences in responsible management education for its sustainability in the world; on the other hand, it could bridge LUSM and the international society, and be the strong support to the AACSB accreditation.