The purpose of this study was to examine the content validity and factor validity of accreditation standards for medical schools. In order to analyze the validity of the standards of accreditation, a questionnaire, assessment survey on the current situation of medical education and standards of accreditation, were developed to gather information. And 1,492 students and faculty were sampled out of 41 medical schools, and the data collected from 662 students and faculty were used for the final analysis. The result of this research was as follows; First, the standard of medical school accreditation has content validity. All of the standards are significant in the range of 3.59~4.49, and the level of recognition of the importance of each standard differed depending on the position of the faculty, student, and their previous experience in the evaluation of education. Therefore, a new standards of accreditation that reflects these differences among groups should be developed. Second, the standard of medical school accreditation is composed of six hidden factors. Each factor has different level of importance and there is a correlation among each factors. Therefore, each factor s level of importance and the relationship between the factors should be considered when developing a new standards of accreditation.