HKU and Chinese U (We called CU) are the oldest universities in HK and most people regard them as the best and the most famous universities here. UST is the third university here and people regard it as the third best university. The rest were sort of vocational schools in the past and recognised as univerities in recent years, so people neglect the effort they put and success they have built. Actually each of them provides different programmes and have different strength. Accountancy of PolyU is also good. As far as I've heard, they are the best among Accountancy courses in all universities here. Ofcourse, generally people would put HKU, CU and UST in higher priority.
BBA programme in UST rank pretty high, that's true. That's also true that there are a lot of quizes, assignments, etc.. In fact, the courses in UST is also very intensive and the teaching method there is a bit bad, IMHO. A 4-year programme in American universities would be compacted into a 3-year programme in the UST. A lot of recitation work is required, but i'm not sure whether the same happens in other universities. If I'm right, American accountancy is taught in UST.
Most overseas exchange students (westerners, I mean) in UST stay there for one semester only.
My friend working in Deloitte Touche Tohmatsu doesn't have 1st honor. Having good school result is one of the first few thing to get a chance of interview. Some graduates without an Accountancy degree could also get a job in big-4 accounting firms.