Singapore ACRA and XBRL mandate
ACRA (The Accounting and Corporate Regulatory Authority) in Singapore mandated the financial report filing requirements. Accordingly, companies need to file their financial statements in XBRL file format with effect from 3 March 2014. The revised XBRL filing requirement is applicable for companies filing their financial statements with periods ending on or after 30 April 2007. All Singapore-incorporated companies must file financial statements with ACRA, except those exempted. Some companies will file a full set of financial statements in XBRL format, while others will file only salient financial data in XBRL file format and a full set of financial statements in PDF. The ACRA XBRL filing requirements depend on the type of company you own (see table below) and you can check for XBRL services by DataTracks.
ACRA XBRL Filing Requirements
| Type of company | Financial statements you need to file |
| Public/private companies (limited or unlimited by shares), except those under (a) and (b) below | Full set of financial statements in XBRL format. |
(a) Specific companies regulated by MAS, such as commercial banks, merchant banks, insurance companies, and finance companies* *Companies other than the specified types (e.g. money changers) are required to file a full set of XBRL financial statements | Financial Statements Highlights in XBRL format, plus a PDF copy of the financial statements. |
(b) Companies permitted to use accounting standards other than SFRS, SFRS for Small Entities, and IFRS** ** SFRS stands for Singapore Financial Reporting Standards, and IFRS stands for International Financial Reporting Standards | Financial Statements Highlights in XBRL file format, plus PDF copy of the financial statements. |
| Solvent Exempt Private Companies (EPCs) | Exempted from filing financial statements. Nonetheless, you are encouraged to file the full set of financial statements or the financial statement highlights in XBRL format. |
| Insolvent EPCs | You must either: (a) file a full set of financial statements in XBRL format, or(b) Financial statements highlights in XBRL file format, plus a PDF copy of the financial statements. |
| Companies limited by guarantee | PDF copy of the financial statements |
| Foreign companies or local branches of foreign companies | PDF copy of the financial statements |
For more information, refer ACRA website
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