The vice president and professor of accounting at Polytechnic University in Hong Kong was fired following an investigation into claims that she omitted to declare earnings of "HK$1.85 million made outside the institution," The South China Morning Post reported.

Judy Tsui Lam Sin-lai was "terminated with immediate effect" from the university for not declaring her income. The school requires its academics to report external income and to pay some of the money to the university, The South China Morning Post reported.

The investigation launched in Oct. 2012 after an internal audit found Tsui had omitted to declare earnings of HK$1.85 million she earned as a company director and as consultant to a locally listed company and a mainland-listed company.

"The review conducted by an independent panel of inquiry has come to a close," Polytechnic University said in a statement. "Upon careful consideration, the university has decided to terminate Professor Judy Tsui Lam Sin-lai's employment."

Because of privacy concerns, the report into claims she omitted her earnings outside of the institution will not be released, a university spokeswoman told The South China Morning Post.

"The university has clear guidelines and an established mechanism to process all applications and approvals of income declarations," the spokeswoman said. "All employees have to follow [the rules] strictly."

Wong Chun-long, president of Polytechnic University's students' union, said the panel, formed by members of the university council and other top scholars, should disclose the report for the public's reference

"The university is a public organization. The public has the right to know," he said.

Tsui joined the university in July 2002 as dean of the business faculty and was appointed vice-president for international and executive education in March 2010.