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2021 Revised XBRL Filing Requirements

ACRA (Accounting and Corporate Regulatory Authority) issued the Practice Direction No. 2 of 2020 to guide companies on the revised XBRL filing requirements and data elements. This move is part of their efforts to streamline the filing of financial statements (FS) using XBRL (eXtensible Business Reporting Language) software.  As a [...]

2021-03-31T22:32:38+08:00February 10th, 2021|XBRL|0 Comments

XBRL Basics: An Introduction For Singapore Business Owners

The Accounting and Corporate Regulatory Authority (ACRA) implemented XBRL financial reporting in 2007. XBRL or the eXtensible Business Reporting Language is managed by a not-for-profit organisation—XBRL International—that seeks to improve the accountability and transparency of companies globally. It is used in more than 50 countries providing a more effective and [...]

2021-03-31T22:32:45+08:00February 9th, 2021|XBRL|0 Comments

Essential Roles of a Company Secretary During COVID-19

It is the role of the company secretary and the board members to handle and resolve complex issues faced by the business amid the pandemic. The management works closely with the company secretary, who ensures that the employees are well-informed of the developments within the organisation. This article highlights some [...]

2021-03-31T22:32:52+08:00January 30th, 2021|Company Secretary|0 Comments

2020 Rules of Winding Up Singapore Companies According to IRDA

The rules for winding up companies in Singapore are set forth in the Insolvency, Restructuring and Dissolution Act (IRDA). This Act was first passed in Parliament on the 1st of October 2018 and commenced on the 30th of July 2020. With its introduction, the Bankruptcy Act has been repealed while [...]

2021-03-31T22:32:58+08:00January 23rd, 2021|Companies Winding Up Rules|0 Comments

How Important is a Corporate Secretary in Singapore?

One of the requirements of company incorporation in Singapore is hiring a corporate secretary. However, due to the stereotypical connotations of the word “secretary”, the role of a company secretary is often misunderstood, or worse, overlooked. In reality, a corporate secretary performs a wide range of duties that are vital [...]

2021-03-31T22:33:05+08:00July 23rd, 2020|Company Secretary|0 Comments

Company Secretarial Services in Singapore: Filing and Compliance

Company secretarial services in Singapore help ensure that a business is compliant with the country’s legislation. The providers assist in establishing the company, preserving its good compliance rate. Read more about the advantages of secretarial services in Singapore.  The two main authorities that companies in Singapore need to be concerned [...]

Key Facts About Hiring Corporate Secretarial Services in Singapore

In Singapore, registering a business is made easy through ACRA’s (Accounting and Corporate Regulatory Authority) online system. However, a local company has to meet numerous requirements to avoid incurring fines and penalties, as imposed by the law. And, to ensure that a company meets its compliance and reporting requirements, [...]

2021-04-05T11:46:47+08:00December 27th, 2019|Corporate Secretarial Services, Guides|0 Comments

The Importance of Appointing a Corporate Secretary to Startups

Of the four stakeholders in a company, the one with the least accountability is the corporate secretary. It is no wonder that startups, especially those operating with a limited budget, will question the need for one. In truth, a secretary is one of the important people within an organisation. [...]

2021-03-31T22:33:17+08:00November 27th, 2019|Corporate Secretary Singapore, Guides|0 Comments

How to Change Company Secretary in Singapore

It is not mandatory for a business owner to keep a company secretary especially if this person does not deliver satisfying work. The best option is to remove him/her and find a replacement. Although seemingly tedious because of possible disagreements with the secretary, the processes involved are quite simple. [...]

2021-03-31T22:33:24+08:00November 26th, 2019|Company Secretary, Guides|0 Comments

Common Corporate Secretarial Services Offered in Singapore

Some businesses choose corporate secretarial services to comply with the Company’s Act of Singapore. If you’ve recently started a business, you must appoint a secretary within six months of incorporation. If you fail to do this, you will have to bear the consequence of paying a heavy fine. Corporate [...]

2021-03-31T22:33:34+08:00November 19th, 2019|Corporate Secretarial Services, Guides|0 Comments