CATEGORY: NEWS AND ANNOUNCEMENTS


ACRA has issued Practice Direction No. 2 of 2020 to guide companies on the revised requirements and data elements for the filing of financial statements in XBRL format. The revisions are part of our continual efforts to streamline filing requirements. For most companies, the number of data elements that they need to file with ACRA will be reduced.  This follows our earlier announcement on 9 March 2020.    

To allow companies more transition time in view of the COVID-19 situation, ACRA is deferring the effective dates as follows:

a.      Companies are required to apply the revised XBRL filing requirements on and after 1 January 2021.

b.      Companies can opt to voluntarily apply the revised XBRL filing requirements from 16  May 2020 to 31 December 2020 (both dates inclusive).  

For more information, please click here.



2020/05/18
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