Complex sentence: AACSB accreditation by itself does not have a bearing on how official authorities in various countries recognize the schools or their programs and they instead rely on acceditation by statutory authorities in the countries where the schools are based.
Split into simpler sentences: AACSB accreditation by itself does not have a bearing on how official authorities in various countries recognize the schools or their programs. They instead rely on acceditation by statutory authorities in the countries where the schools are based.