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The Accounting and Corporate Regulatory Authority and XBRL

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 companyFinancial statements you need to file
Public/private companies (limited or unlimited by shares), except those under (a) and (b) belowFull 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 EPCsYou 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 guaranteePDF copy of the financial statements
Foreign companies or local branches of foreign companiesPDF copy of the financial statements

 

For more information, refer ACRA website

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