KUALA LUMPUR: The Store Corp Bhd has reported a variance between the audited and unaudited financial statements for FY ended Sept 30, 2009 following the provision of allowance for doubtful debt of RM10.827 million.

It said on Friday, Jan 29 it had submitted the audited financial statements for FYE Sept 30, 2009 on that day and informed Bursa Malaysia of a deviation between the consolidated net profit for FYE 09 in the unaudited 4Q results and the audited statement.

"The deviation mainly arose from the allowance for doubtful debt amounting to RM10.827 million," it said.

The Store said that at the point of its announcement of the unaudited 4Q results on Nov 30, the board viewed that no significant allowance for doubtful debt was required as they believed the receivable was recoverable.

However, upon completion of the audit, the company’s auditor stated an allowance for doubtful debt of RM10.827 million was required.