A committee of MPs says it fears the system for checking school spending in England is not robust enough.
The Public Accounts Committee says value-for-money checks on education and children's spending need improving.
The current structure of school funding does not allow government to follow where taxpayers money is being spent, committee chair Margaret Hodge told the Today programme.
But James O'Shaughnessy, head of strategy at Wellington College, said that while everyone is in favour of financial scrutiny, value is best achieved when money is in the hands of the schools.
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