Grambling State University has had its accreditation restored after being on probation for two years because of disarray in its finances. The Southern Association of Colleges and Schools, the national accrediting agency, announced the decision early last month. The move was expected, following the declaration by state officials in October that an audit had found no major problems in the institution’s books. In November, a panel of officials from the accreditation association who visited Grambling said in a report that the university had achieved a “remarkable transformation” in its financial management.