Applying for Financial Reporting Relief

Key points

ACRA distinguishes accounting-standard exemptions from form-and-content relief. It generally does not approve IFRS-only reporting where SFRS(I) with simultaneous IFRS compliance can be used. Certain director-interest disclosure relief is available with all-member consent and the required declarations. Other applications cost S$200 and require review. Disclosure relief is not an audit exemption or general permission for one director to sign when two signatures are required.