XBRL Filing - What is XBRL?

XBRL stands for eXtensible Business Reporting Language and it is language for electronic communication of business data reporting. For Singapore incorporated companies, ACRA (Accounting and Corporate Regulatory Authority) implemented a siling system, which requires companies to file their financial statements (FS) in XBRL format.

Who Needs To File?

The following companies are required to file their financial statements in XBRL format

Private companies with shareholders known as Non-Exempt Private Limited companies (“Non-EPCs”)

Private companies whose current liabilities exceed their current assets or with deficit equity also known as Insolvent Exempt Private Limited Company (“EPCs”).

XBRL Filing Exemptions

Certain companies are exempted from filing XBRL. These companies include:-

Solvent exempt private limited companies

Companies limited by guarantee

Foreign companies regulated by the Monetary Authority of Singapore

Companies that are permitted by law to prepare their financial statements in other standards of accounting.

Why Outsource XBRL Filing To Us

XBRL Filing process is not something that the company’s directors or owners should leave to the junior staff, as it is a time-consuming and daunting process. Outsourcing XBRL filing to us will make it more convenient and hassle-free to handle the daunting task for you.

At Peritus, our knowledge and expertise in handling the complex business reporting language enable us to assist you in the preparation of the XBRL efficiently.

Let us handle the process of preparing the XBRL while you enjoy peace of mind, as our team will meet all your compliance needs on time with accuracy.