Prior Review, Endorsement or Approval by the University

The Council has delegated authority to the President to form corporate bodies with cash contribution from and/or financial exposure of the University up to HK$10 million, and to dispose of interest in corporate bodies. Formation of corporate bodies with cash contribution from and/or financial exposure of the University exceeding HK$10 million shall be approved by the Executive Committee of the Council.

The President holds delegated authority from the Council to appoint and remove directors and officers of subsidiaries. Appointment of University staff, Council or Court Members as committee members of the subsidiaries shall be endorsed by the University Management.  

The University is responsible for the financial control and performance of all subsidiaries. Through regular financial reporting by the subsidiaries, the University monitors and ensures that the operation of its subsidiaries is in alignment with their established objectives and planned targets. The subsidiaries’ budget and annual report, which includes the audited financial statements, shall be endorsed by the University Management and approved by the respective governing body of the subsidiaries. The Finance Office of the University shall provide input/advice to the subsidiaries on their financial reports to ensure alignment with institutional policies and direction. The Consolidated University budget and financial statements shall be submitted to the Finance Committee and Executive Committee of the Council for endorsement, and then to the Council for approval.

Alignment with the University Policies and Procedures

Subsidiaries of the University have developed administrative policies and procedures that are, generally, in alignment with those of the University, including accounting policies, payment and purchasing procedures, etc. Subsidiaries also follow the same compliance requirements as the University, such as with regard to the handling of personal data, exclusion of third party beneficiaries, avoidance of conflict of interest, etc.

As the College of Professional and Continuing Education Limited (CPCE) offers professional and continuing education programmes, quality assurance of its academic programmes, policies and procedures of staff appointment, code of conduct, grievance procedures, as well as staff and student disciplinary procedures are in alignment with the University’s standards and practices in order to ensure that the learning and teaching activities conducted are of high quality.

Reporting Requirements to the University

The Council and its Committees will receive the following reports from direct subsidiaries of the University:


the Finance Committee will receive the whole set of audited financial statements of direct subsidiaries, the audited combined financial statements of CPCE, and the consolidated financial statements of PolyU Enterprise Plus Limited and PolyU Research Limited.



the Executive Committee will receive the Annual Reports, which include the audited financial statements, of direct subsidiaries.


the Council will receive a summary of the annual financial results of direct subsidiaries, with their Annual Reports being made available for on-site perusal upon request by Council Members.


Subsidiaries are required to report to the University Management as soon as possible any incident that may have legal, compliance and/or reputational risk to the University, including but not limited to the following:

incidents which may have material adverse impact on the quality of curriculum and interest of students;
incidents which may affect the health and safety of staff and/or students;
serious violation of code of conduct/ethics by directors/officers;
being investigated as a potential subject by a law enforcement agency and/or served with legal proceedings;

unauthorized use of the University’s title/logo/address by affiliates or third parties.