Revised XBRL Filing Requirements Would Enhance the Standard of Financial Statements:SBS nsulting

Singapore’s regulatory body for public aounts,the Aounting and rporate Regulatory Authority (ACRA)has announced the revised XBRL requirements,whereby the effective date for filing financial reports in full XBRL (extensive Business Reporting Language)format has been altered from 22nd October to 2nd December.

“This revision is in response to feedback for panies to be given additional preparation time as they get ready for the transition to full Singapore XBRL filing,”said ACRA.

SBS nsulting learns that this decision by ACRA will further enhance the credibility and veracity of the financial statements furnished by Singapore panies,as up till now panies used to file their financial reports in partial XBRL format,which henceforth have to file their statements in full XBRL format from 2nd December 2013onwards.

Furthermore,the proposed release of a new advanced tool called Finx for full Singapore XBRL filing nsiderably（相当）rces the burden（负担）of filing for panies.This is basically an offline software application with key features like drag-and-drop function and auto-tagging which rces the data entry time of the preparers.This tool will replace the existing FS Manager tool with effect from 30November 2013,23:59hours.

中文新闻：新加坡修订后XBRL报送要求将提高财报标准