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Who should submit financial statements in XBRL format with ACRA?

Criteria for companies required to file financial statements in XBRL and exemptions

Statutory Requirement

ACRA mandates all Singapore incorporated companies to file their financial statements in XBRL format except those companies that are specifically exempted. Depending on the classification of business entities, the mandated business entity may have to submit,

  • Full set of financial statements in XBRL format (or)
  • Only Financial Statements Highlights (FSH) in XBRL format, plus PDF copy of the financial statements.

As per the information available in ACRA website the filing requirements in XBRL format applicable to different business entities are as follows:

Who need to file full set of financial statements in XBRL format?

Singapore incorporated public/private companies (unlimited or limited by shares) which are required to file their financial statements with ACRA, will file a full set of financial statements in XBRL format, according to a minimum requirement list within the ACRA Taxonomy.

Filing of Option B (Partial XBRL), a filing option under the previous XBRL system (FS Manager), will no longer be available.

Who need to file only financial statement highlights (FSH) in XBRL format?

The following type of companies are exempted from filing the full set of XBRL financial statements and can file only Financial statements highlights (FSH) in XBRL format with PDF copy of financial statements.

  • Companies which fall under the scope of (1) Commercial Banks; (2) Merchant Banks; (3) Registered Insurers; and (4) Finance Companies that are regulated by the Monetary Authority of Singapore (“MAS”). Please note that other types of companies regulated by MAS, e.g. money changers, are required to file a full set of XBRL financial statements.
  • Companies that are allowed by law to prepare accounts in agreement with accounting standards apart from Singapore Financial Reporting Standards (SFRS), SFRS for Small Entities or International Financial Reporting Standards (IFRS).

Who need to file either the full set or financial statement highlights (FSH) in XBRL format?

Insolvent Exempt Private Companies (EPCs) are required to file the full set of XBRL financial statements or financial statements highlights (FSH) in XBRL format with PDF copy of financial statements.

Who are encouraged to file in XBRL format?

Solvent Exempt Private Companies (EPCs) are exempted from filing financial statements, but are encouraged to file the full set of XBRL financial statements or financial statements highlights (FSH) in XBRL format

Who are not required to file in XBRL format?

Companies limited by guarantee need to file only the PDF copy of financial statements. XBRL filing is not required.

Similarly foreign companies and their local branches need to file only the PDF copy of financial statements. XBRL filing is not required.

The revised XBRL filing requirement is applicable for companies filing their financial statements with periods ending on or after 30 April 2007. Companies filing financial statements pertaining to periods ending before 30 April 2007 can continue to file in PDF format. Their financial highlights in respect of the financial statements can be shown in their Annual Return form.


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ACRA XBRL filing - What should you include in XBRL format?