Certifications as a business model

Who decides that an organization is qualified to issue certifications Organizations, like the CFA and the ABET, have made themselves extremely difficult to replace. While these certifications ensure basic levels of competence, they're fairly arbitrary and largely aimed at introducing / maintaining scarcity where there's asymmetric information in the market. Would people realistically stop honoring degrees from Harvard if it failed to be re-accredited?

Opportunities for certification are everywhere. For example, there's a certification process for SAT tutors because while tutors may have scored well on previous exams, there's no guarantee that they'd score well after format changes or that they're talented teachers.

There's little preventing people from starting new certification processes and demanding that people pay to take a qualifying exam to be considered eligible. So, if you can establish a new certification, you're effectively guaranteed a consistent cash flow.