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Finance Division



The Finance Committee approve new legal structures and changes to existing structures for subsidiaries, joint ventures and branches.


Departments should in the first instance forward details of any proposed change to the Head of Central & Research Accounting , in the Finance Division.

A template checklist is provided that outlines what material and sign-offs the Finance Committee would expect in making and informed decision. Guidance is also provided as to how the checklist can be completed.


New and amendments to legal structures checklist


  • Cambridge University Press & Assessment are outside the scope of this process
  • This is NOT a process to approve or comment on the business activity as this should be a purview of a business case. This technical sign-off will however complement a business case.
  • A minimum of 8 weeks should be expected for contributing teams to successfully conclude their involvement before the date of the Finance Committee meeting needed for approval.


1. Initiation

Approach by a department to the Finance Division (Head of Central & Research Accounting) to establish/change a new legal structure.

a)  Assign leads:

  • Departmental sponsor for new entity
  • Departmental point person - responsible for Finance Committee paperwork
  • Finance Division point person - provides guidance and support for the departmental point person

b)  Finance Director and Director of Legal Services are informed

c)  Establish process with all contributing teams to complete checklist:

  • Stage 1 - Tax and Legal teams to determine the form of the legal structure
  • Stage 2 - All teams complete checklist


2. Action

Departmental and Finance point persons engage with all the teams in the checklist sign-off.

a)  Create a common platform if knowledge:

  • Synopsis of need for new entity/change
  • Business case if significant business venture

b)  Discussions /interactions with checklist signatories.

c)  Complete Finance Committee documentation:

  • Draft paper - best check with checklist signatories
  • Checklist



3. Approval

a)  Final Finance Director and Legal Services Director clearance:

  • Checklist
  • Draft Paper

b)  Final papers to the Finance Committee support team in the Finance Division (Head of Directors Office)

  • Final Paper
  • Cover note
  • Checklist

c)  Attendance at Finance Committee if required.



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