XBRL means extensible Business Reporting Language. XBRL is a language for the electronic communication of business and financial data which is revolutionizing business reporting around the world. It provides major benefits in the preparation, analysis and communication of business information.

With the development of business and finance reporting, the Government of Singapore has adopted a system to develop XBRL filing compliance which are required for companies in Singapore. Some of the advantages offered through this system are the increase in compliance requirements for the company.