Applying for financial reporting reliefs
Check if you qualify for financial reporting relief, and learn how to apply for relief via Bizfile.
Last updated 3 February 2026
Check available reliefs for these financial reporting requirements:
1. Accounting standards requirements
Your financial statements (FS) must comply with these requirements:
Meet accounting standards issued by the Accounting Standards Committee (ASC)
Give a true and fair view of the financial position and performance of the company
More details: Section 201(2) of the Companies Act 1967
Relief: Accounting standards requirements
You need ACRA approval to be exempted from compliance with the accounting standards. This includes preparing FS using an accounting framework other than the accounting standards issued by the ASC.
We only grant this exemption in limited circumstances to ensure all Singapore companies are treated fairly.
If you want to use IFRS
ACRA generally does not approve exemptions for FS to be prepared using only IFRS (International Financial Reporting Standards). Instead of applying for an exemption, you can:
Apply the SFRS(I) (Singapore Financial Reporting Standards (International); and
State simultaneous compliance with IFRS in your SFRS(I) FS.
2. Disclosure requirements
Under section 201(16) of the Companies Act 1967, FS must include a directors' statement.
Your directors' statement must contain information set out in the Twelfth Schedule. This includes disclosure of directors' interests in shares in or debentures of the company and related bodies corporate.
Reliefs: Disclosure requirements
Automatic relief from directors' interest disclosure
From 9 December 2024, non-listed public companies and private companies do not need to disclose directors' interests in shares in, or debentures if:
Your directors declare in the directors' statement that all members have consented to exclude this information; and
Your company confirms this consent when it files its annual returns.
When you file your annual return and financial statements
You need to state whether the directors' statement includes directors' interests in shares or debentures.
If this does not apply to your company, you should still select Yes. This is because your directors' statement will still indicate that your company does not have such directors’ interests in shares or debentures. This means the disclosure is not applicable to your company.
More details on automatic relief: Section 202(2) of the Companies Act
Applying for disclosure relief
You may apply for relief from form and content requirements related to your company's FS and directors' statement.
The relief does not cover:
Audit exemption: Check if your company qualifies for audit exemption instead.
Single director signature: The directors' statement must be signed by at least two directors when there are two or more directors in office. This applies even if one director is absent for an extended period, uncontactable, or in dispute with other directors.
Note: ACRA only grants reliefs in very limited cases. This keeps reporting fair and consistent for all Singapore companies.
Before you apply for relief
Financial reporting relief
What you need to know | Details |
|---|---|
Fee | $200 (non-refundable) |
Processing time |
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How to apply for relief
Open the General lodgement eService and log in.
Select the relevant general lodgement type:
Application under Section 201(12) of the Companies Act - Exemption from compliance with the Accounting Standards; or
Application under Section 202 of the Companies Act - Relief from Requirements as to Form and Content of the Financial Statements and Directors' Statement.
Complete and attach the application form.
Submit your application.