ACRA releases version 4.0 of BizFinx Preparation Tool and Multi-Upload Tool
27 March 2026
On 25 February 2026, the Accounting and Corporate Regulatory Authority (“ACRA”) announced the release of version 4.0 of the BizFinx Preparation Tool (“Preptool”) and Multi-Upload Tool (“MUT”).
Entities can prepare, validate, and upload their financial statements in XBRL format using the latest versions from 25 February 2026 and must transition to these versions by 15 April 2026.
The updated Preptool and MUT include the following improvements:
- The accounting standards (Financial Reporting Standards 117) for insurance companies have been updated.
- Eligible companies can now select “SFRS (Reduced Disclosure Requirements)” if they are utilising it. More information is available on ACRA’s webpage on Amendments to FRS 119.
- A new “AdditionalInformation” tab has been added to the Preptool. The data elements support transparency and better data analysis.
- Some exceptions from validation rules have been re-categorised from genuine error to possible error. This will allow companies to make a filing without applying for a business rule exemption once they have confirmed that it is not an error. For example, entities using the accounting framework “SFRS for Small Entities” are not required to present a reconciliation for property, plant and equipment, and intangible assets for the prior year. Hence, the business rule has been re-categorised from genuine error to possible error.
Reference materials
The announcement is available on the ACRA website www.acra.gov.sg.