CATEGORY: PRESS RELEASES
The Accounting and Corporate Regulatory Authority (ACRA) announced today the revised filing requirements for companies required to file their financial statements with ACRA. The revision includes expanding the taxonomy used for filing. This will improve the quality of financial statements by increasing the breadth and depth of financial data submitted to ACRA. The revised filing requirements will take effect from late October 2013. In tandem, companies which currently file financial statements in partial XBRL format will be required to file a full set of financial statements in the XBRL (eXtensible Business Reporting Language) format henceforth. This will enable greater transparency and comparability of financial information being released.
Download the press release(PDF, 363KB) for more information.