XBRL Filing Services Singapore

XBRL Filing Services Singapore | Bestar

XBRL Filing Bundled With Audit

In Singapore’s rigorous regulatory landscape, compliance is not just about ticking boxes—it’s about data precision. For most companies, XBRL (eXtensible Business Reporting Language) filing is a mandatory part of the Annual Return process.

Increasingly, businesses are choosing to bundle XBRL filing services with their statutory audit. This integrated approach ensures that the digital "tags" applied to your financial data perfectly match the audited figures verified by your auditors.

Why XBRL Filing is Often Bundled with Audit

While some companies attempt to handle XBRL in-house using ACRA’s BizFinx tool, bundling it with an audit has become the industry gold standard for several reasons:

• Data Integrity & Accuracy: The XBRL file must be a "true and fair" digital reflection of the audited financial statements. When the same firm handles both, the risk of "mapping errors" (tagging a line item incorrectly) is significantly reduced.

  
  

• Audit Trail Consistency: Auditors already possess the granular breakdown of your accounts. They can map the XBRL tags directly from their working papers, ensuring that the Director’s Statement and Auditor’s Report are synchronized.

  
  

• Time Efficiency: Bundling eliminates the "middleman" delay. You won't need to send final audited PDFs to a third-party vendor and wait another 3–5 days for conversion.

  
  

• Accountability: If ACRA issues a query regarding your XBRL data, a bundled service provider takes full responsibility for the reconciliation between the digital filing and the signed audit report.

Who is Required to File in XBRL?

Under ACRA’s current requirements, nearly all Singapore-incorporated companies (public or private) must file a full set of financial statements in XBRL format, with a few specific exceptions:

Company Type	Filing Requirement
Standard Private Ltd	Full XBRL (Primary statements + Selected notes)
Smaller/Non-Public Entities	Simplified XBRL (approx. 120 data points)
Insolvent EPCs	Full XBRL or Simplified XBRL
Solvent EPCs	Exempt (Declaration of Solvency required)
Foreign Companies	Generally PDF format

Note: "Smaller companies" typically refer to those with revenue and total assets not exceeding S$500,000.

Strategic Benefits of Outsourcing XBRL

1. Avoid Penalties: Late filing or inaccurate data can lead to composition fines of up to S$600 per breach and potential prosecution for directors.

   
   

2. Professional Mapping: Complex areas like Property, Plant and Equipment (PPE) and Share Capital require technical accounting knowledge to tag correctly under the ACRA Taxonomy.

   
   

3. Focus on Core Business: Instead of navigating the technicalities of the BizFinx preparation tool, management can focus on year-end scaling and strategy.

Choosing the Right Package

When looking for a provider in Singapore, look for "All-in-One" compliance packages. These typically include:

• Statutory Audit (for companies exceeding the S$10M revenue/asset threshold).

  
  

• Tax Computation & Filing (Form C-S/C).

  
  

• XBRL Conversion & Tagging.

  
  

• Corporate Secretarial Services (for AGM and Annual Return filing).

  
  

Bestar Singapore in Singapore "All-in-One" compliance packages 

When it comes to corporate compliance in Singapore, Bestar has positioned itself as a leading provider of "All-in-One" solutions. By integrating statutory audit, tax, and XBRL filing, Bestar helps businesses move away from fragmented admin and toward a unified compliance strategy.

Below is an overview of our bundled services and why we are a preferred partner for SMEs and multinational corporations alike.

The Bestar "All-in-One" Compliance Edge

Bestar Singapore’s compliance packages are designed to eliminate the "compliance gap"—the errors that often occur when moving data between a bookkeeper, an auditor, and a tax agent.

1. Integrated XBRL & Audit Services

For companies required to file in XBRL, Bestar provides a seamless transition from Audited Financial Statements to ACRA-ready XBRL files.

• Precision Tagging: Bestar’s team handles the complex mapping of financial data points (Taxonomy) directly from the audit working papers.

  
  

• Reduced Turnaround: Since the audit and XBRL conversion happen under one roof, there is no delay in data transfer, ensuring you meet ACRA’s strict 30-day filing deadline post-AGM.

  
  

• Zero Reconciliation Errors: Bundling ensures that the digital XBRL data is a 100% accurate reflection of the signed audit report.

2. Comprehensive Tax Compliance (IRAS)

Bestar’s "All-in-One" packages extend beyond ACRA to include IRAS (Inland Revenue Authority of Singapore) requirements:

• ECI Filing: Early submission of Estimated Chargeable Income.

• Form C-S/C Preparation: Detailed tax computations that leverage all available tax incentives (e.g., Startup Tax Exemption, Corporate Income Tax Rebates).

• GST Management: Quarterly GST reporting for registered entities.

3. Corporate Secretarial & Annual Returns

Every Singapore company must appoint a Company Secretary. Bestar’s packages typically include:

• Maintenance of Registers: Keeping the Register of Controllers and Members updated.

  
  

• AGM Preparation: Drafting the necessary resolutions and minutes.

  
  

• Annual Return (AR) Filing: Finalizing the compliance cycle with ACRA via BizFile+.

Bestar Service Comparison: Why Bundle?

Service Feature	Individual Vendors	Bestar All-in-One Package
Data Flow	Manual & Fragmented	Unified & Automated
Communication	Multiple points of contact	Single Dedicated Account Manager
Risk of Penalties	High (due to miscommunication)	Minimal (centralized deadlines)
Pricing	Multiple separate fees	Fixed, Transparent Bundled Rate
Technology	Various legacy systems	Cloud-integrated (Xero/QuickBooks)

Bestar’s "Digital-First" Approach

Bestar stands out by using AI-powered auditing and cloud-based accounting platforms like Xero. This allows for real-time financial monitoring rather than just a "once-a-year" compliance check. This proactive approach ensures that by the time your financial year ends, your books are already "audit-ready," significantly lowering the cost and stress of the annual filing season.

Is your company audit-exempt but still needs XBRL?

Even if your revenue is below S$10 million (making you audit-exempt), you may still be required to file Unaudited Financial Statements in XBRL if you have corporate shareholders.