Open Financial Records

Private school administrators understandably oppose the proposal that schools' financial records be opened to representatives of the government, faculty, and students.

The merits of their position notwithstanding, I must support Education Minister Jaime Laya's insistence on this provision.

Minister Laya knows only too well how irresistible a temptation it is for an institution to misrepresent its financial reserves. He also knows how much damage results when the deception is discovered.

Juan P. Antillon
 

Ed:  Laya was caught doctoring the IMF report on dollar reserves.