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Corporate Governance Statement

Principles

As an independent statutory body established under the HKEAA Ordinance, the Authority is committed to upholding the highest standards of corporate governance and believes that transparency, integrity, fairness and accountability are the cornerstones of corporate governance.

Composition and Appointment of the Governing Council of the Authority (the Council)

The composition and appointment of the Council are specified under Schedule 2 of the HKEAA Ordinance. Members are either appointed by the Chief Executive of the Hong Kong Special Administrative Region, nominated by the Heads of Universities Committee or are ex-officio members. Members of the Council in 2017/2018 are given in Appendix 1. No Council members are remunerated.

Responsibilities of the Council

The Council is the highest governing body of the Authority in making decision and in approving major plans, budgets, policies and regulations. The Council also appoints the senior executive of the Secretariat.

The Council shall meet at least twice every year. Additional meetings shall be convened as needed for the discussion of special and urgent matters.

Committees

The Council appoints standing committees to support governance in particular areas. These committees discharge their responsibilities in accordance with prescribed terms of reference. Working groups and sub-committees may be appointed to take on particular tasks. The major committees in 2017/18 are listed below while the members' lists are given in Appendix 2.

  • Strategic Development Committee
  • Advisory Committee on Basic Competency Assessment
  • Appeal Review Committee
  • Audit Committee
  • Finance Committee
  • Human Resources Committee
  • Information Technology Committee
  • Public Examinations Board
  • Research and Development Committee

Internal Control and Risk Management

The Internal Audit Unit has been established to review and improve the internal control of the Authority. It ensures all divisions are in compliance with relevant regulations and policies such that the highest standards of performance are maintained. This unit also manages the risk assessment and control of the Authority.

Accounts and Audit

The Accounts of the Authority are endorsed by the Finance Committee and the Audit Committee and are approved by the Council. The approved accounts are audited by the external auditor of the Authority. The external auditor is appointed by the Audit Committee. The auditors' report and the audited financial statements for the year ended 31 August 2016 are given in Appendix 3.

Staff Remuneration

The Human Resources Committee advises on remuneration-related policies including the annual pay adjustment, remuneration structure and other employment terms and conditions. These are then approved by the Council.

Secrecy and Council Members’ interest

Members of the Council and its committees are required to preserve secrecy with regard to all matters coming to their knowledge in the exercise or performance of any duties or functions related to the Authority.

The Council has established policies in declaration of interest. Members of the Council and its committees having conflicts of interest in a matter shall, if so required, withdraw from the meetings while the Authority is considering the matter and shall not vote thereon.

 

 

 

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