The Provic group pointed to an apparent "conflict of interest between instructing audit companies, valuers and liquidators," in its second round submission to the Financial System Inquiry.Provic said that, in the case of Gippsland Secured Investments Ltd, "the auditor firm appointed by the Trust Company to appraise the company assets for its viability was the same company appointed as liquidator. "When all the assets of Gippsland Secured Investments have been sold under forced sale conditions, and all the auditing, liquidation, trustee and valuer fees have been paid (estimated A$7 million), the investors in this company are likely to receive $.92 for every dollar invested," Provic's submission said.   "This is similar to the dividend paid by Southeast Secured Investments. "Many of the loans from the company's loan book were sold to Deutsche bank at a discount of 92 cents in the dollar."