by Ji Yuan
Fauci's NIH failed to fulfill the fiduciary duty entrusted by the American taxpayers and continued lying on the fund usage.
In order to prevent and stop misusing federal fund of taxpayers, effective measures are recommended:
- Stringent assessment of NIH officers at least annually and independently in a way similiar to directors of board of US listed companies. That is corporate performance management, including managerial accounting, should be applied to NIH.
- Federal Tax Cut. The process has commenced under Trump Times. It's unclear whether Democrats will continue the process.
- More restriction on the treasury bonds issuance. Restriction could contribute to less federal spending or deficit,future less taxes collected and healthier financial market.
- Independent audit of NIH funds and timely stop loss. Audit work of Federal Government Accountability Office must be scrutinized as well. Scope, nature of audit procedures and time,etc must be scrutinized in a matter applied by audit quality assurance.
- Researchers receiving federal fund must swear orally that Form 1040 Individual Income Tax has included all income arising from foreign countries such as China, including non-monetary income, travel reimbursement,gifts,etc. Swear that the computer including US properties has never been and will never be brought to China. Researcher's carriers of US properties are available to audit such as IT audit by NIH. The same applied to NIH's officers and employees.
- The above measures apply to Fauci's NIAID
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Ji Yuan is a former Certified Public Accountant licensed by the People’s Republic of China, who audited financial statements of Chinese Communist enterprises for multiple years.
Email: cpajiyuan@protonmail.com
American accountants could thought out much more sound ideas to fix NIH's fund problems.
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