It kinda seems to be like the Kipling ceremony.
So basically you listen to the obligatory "bla bla bla.... new minds... bla bla bla.... our future...." speech, like you hear in every major student event. Maybe some presentations for parents (investors), then some speech from the students. That will take over an hour, and only after the people who own the university stop stroking their ego you move on to graduation. By the way you are gonna stand for all that time, so get your comfy shoes. Then you have to stand for several hours waiting for your turn to get to get the thing.
In short it's basically: stand for 4 hours, the end.