Who prepares XBRL
Can our accountant prepare XBRL?
The situation
Anyone can prepare XBRL, but filing it for others needs a registered CSP.
The law
- Companies Act 1967 and ACRA XBRL filing requirements: Companies filing financial statements file them in XBRL format (full or simplified) unless exempt
- Corporate Service Providers Act 2024: Anyone filing ACRA transactions or providing corporate services for others must register with ACRA as a CSP
What it means for you
Many accountants prepare XBRL and the secretary files it. Check both understand the template. Preparing XBRL is not a corporate service on its own, but filing it on BizFile for a client is. Agree in writing who is responsible for each step.
What to do
- Agree who prepares.
- Agree who files.
- Check CSP status.
- Review before filing.
We can do this for youXBRL financial statements preparation and filing: SGD 400