Mr. Niall Cody:

The R&D credit is probably the element on the audits we do. It has improved significantly. In record keeping in relation to R&D, there are onerous requirements to substantiate that it is original R&D.

There are essentially two elements to the claims: one is an accounting process; and the other is what we call the science test, even though R&D is not just science. We do the accounting test ourselves. If there is a challenge, because, obviously, we are not experts in whatever bioengineering or pharmaceutical, we engage experts to satisfy us in the context of an audit that the research and development meets the legislation standards that are set out.