The decision will not be made public until the middle of next month.
In a shock for the embattled board last October, it failed a routine inspection of its house officer programme, and was granted a reprieve to May 11 to sort out the problems.
In a report released by the Medical Council, house officers at Dunedin Hospital were said to be overworked and lacking supervision.
The inspection team had been "greatly troubled" to be told by the acting chief medical officer that no-one at the board was responsible for the training programme.
The report said an "apparent lack of engagement by senior management and some senior staff" had hampered efforts to improve the programme.
Since then, the board has recruited Dr Nigel Millar, from the Canterbury DHB, to the chief medical officer role. He started in March, and the board has been working since last year to address the shortcomings.
A Medical Council spokesman told the Otago Daily Times another inspection was conducted last month, before the decision today.
"Following the council meeting, Southern DHB will be provided with council's accreditation decision together with the reasons for the decision, and any conditions or reporting requirements.
"Southern DHB may seek formal reconsideration of the accreditation report and/or council's decision regarding the accreditation report within 30 days of being notified of council's decision."
House officer is the term for doctors in their first two years after medical school.
While Southland Hospital won praise for aspects of its house officer training programme, accreditation is handled on a DHB basis.
