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- Directors of the companies are responsible for the timely filing, correctness and accuracy of Financial Statements in XBRL format.
- Companies in the excluded category shall continue to file their FS by attaching a PDF copy of the FS as tabled at or used for the purposes of their Annual General Meeting (AGM).
- Solvent exempt private companies (EPCs) will continue to be exempted from filing their FS with ACRA.
- Insolvent EPCs and EPCs that are required by law to file their FS with ACRA will do so in XBRL format.
Who is excluded?
- Companies that are allowed by law to prepare accounts in accordance with accounting standards other than the Singapore Financial Reporting Standards or the International Financial Reporting Standards.
- Companies limited by guarantee.
- Foreign companies and their local branches.
- Banks, insurance companies and finance companies whose activities are regulated by the Monetary Authority of Singapore.
Who is included?
All companies who are NOT excluded will be required to file its FS in XBRL format if:
- the company ends on or after 30 April 2007
- the company is filling its Annual Returns on or after 1 November 2007
- Full XBRL – Filing its full set of FS in XBRL format
- FSH – Financial Statement Highlights applicable for insolvent Exempt Private Limited Companies (EPC) only. Filing only balance sheet, income statement and mandatory information in XBRL format and PDF copy of FS presented at company’s AGM.