University foundation defies Comptroller.

THE BATTLE between Panama’s Comptroller and the University of Panama Foundation continues as despite assurances to the contrary, officials at the Foundation have refused to cooperate with auditors of the agency says Comptroller Frederico Humbert.

University of Panama  Rector Gustavo García De Paredes has said that he has authorized the foundation to turn over all the required information. But  Humbert has claimed that has not been the case.
“The core of the audit are the bank accounts, and they are not willing to offer them,” Humbert said. “The response of the Fundation was that they would not deliver them because they are private.”
Foundation President Sergei De La Rosa refused to answer any questions. Foundation official Norberto Jaén said that the requested information would be provided next week, reports La Prensa.
“They agreed to come on Monday to continue removing the information,” said Jaén. “The Comptroller has requested accounting information that is within bank accounts.”
Humbert said the audit is required because there is an overwhelming public interest to determine how the foundation spent millions in dollars of fees it collected as a private body for work done by the university.
“They are trying to hide what society demands to know, what was done with the income,” the comptroller said.
Previously, foundation board members had vowed to keep the finances a secret..
The foundation was created in 1995 to support the university. The handling of finances by the foundation has prompted a criminal complaint for abuse of public funds as well as the audit by the comptroller.