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Clearly, the issue is that book value, and to an extent market value, will assume that the smelter is a going concern, and it will be valued accordingly, whereas the forced sale value will simply be the value of the land and buildings but without the business attached. That is the critical value to ensure that we have cover.

I will move on—

How much has the Scottish Government actually recovered with regard to fraudulent payments and payments made in error? Do we have a figure for that?

Data is always king. Getting data, including in the right format and so on, is always a problem—that problem comes before the committee all the time. It does not seem difficult to get data relating to this issue. I would have hoped that the Government would have plans to report fraud and error, and could report on the amounts recovered. That seems pretty basic to me.

I have a final question to wind up. What lessons have we learned in relation to not only fraud and error but the processes that have been put in place? Have we learned anything from the situation?

The committee would certainly be interested in a bit more data around what has happened in terms of recovery and so on. Looking at the big figures south of the border niggles me—I wonder whether we are missing something.

That is true, but I would be surprised if the external auditors did not have a role in providing the information that the board needed to enable it to comply with whatever was required in relation to the assets.

Looking at the big picture, is there a governance issue?

I would be very pleased if we have managed to keep fraud down to this level. I just have a niggling worry.

Colin, you partly answered my next question when you talked about controls, counter-fraud checklists and so on. I was going to ask you about the action that the Scottish Government has been taking to reduce and manage error and fraud, and perhaps you can give us a bit more detail on that.

I am a bit concerned that we do not seem to have a grip on recovery. Is that not quite important? You are making estimates of how much the fraud and errors amount to, but you have no idea about recovery. I would have thought it a simple matter of calling the councils and getting the figures from them.

Surely we need to know how effective that is and what the outcomes are.

The logical extension of that is that until you know the whole picture, you cannot know whether all the estimates that you are making are particularly accurate.