Correcting filed XBRL
We found an error in filed XBRL. Can we fix it?
The situation
Companies can generally file corrections through ACRA's processes.
The law
- Companies Act 1967 and ACRA XBRL filing requirements: Companies filing financial statements file them in XBRL format (full or simplified) unless exempt
What it means for you
Fix material errors quickly. Keep the corrected file and board approval. Check ACRA's current correction process. Material errors can mislead lenders and investors who rely on ACRA data. Record the board's approval of the corrected statements before refiling.
What to do
- Identify the error.
- Get board approval.
- File the correction.
- Keep records.
We can do this for youXBRL financial statements preparation and filing: SGD 400