After a decade and several cycles of institutional accreditation carried out under a quality audit approach, it was considered necessary to find out what effects - if any - were apparent in higher education institutions. A review of accreditation decisions in ten universities in Chile, with different accreditation results, yielded interesting information about changes in governance and managerial practices. Interviews with representatives of the universities that showed a more marked improvement identified good practices with regard to the review and operationalization of mission statements, organizational structure and decision-making policies and procedures, and academic management. The study also suggested that institutions tend to follow a developmental itinerary, which can be useful in the review and implementation of quality assurance processes.