Annual financial statements are a set of documents that reflect the financial situation and assets of a company at the end of the fiscal year. Translating these is a complex process that requires experience and specialized knowledge, since it involves not only transferring the language, but also adapting the content to the financial and legal laws of the target country. Here we’ll examine the basic concepts needed to correctly translate annual financial statements.
When is it necessary to translate annual financial statements?
There are several different situations that require translating annual financial statements, notably:
- Presenting them to official foreign organizations: If a company has branches in foreign countries, they need to present the annual financial statements for these branches in the language of the country where they are registered.
- Participating in international tenders: Companies looking to participate in international tenders generally need to present their annual financial statements, translated into the language of the country where the tender is being held.
- Attracting foreign investors: Companies that are looking to attract foreign investors often translate their annual financial statements so that potential investors can better understand their financial situation.
- Fulfilling legal obligations: In some cases, legislation in certain countries requires the translation of annual financial statements for foreign companies that operate within their territory.
How should you translate financial documents?
There are two main ways to translate annual financial statements:
- Non-certified translation: Non-certified translation consists of translating the text in financial statements from one language to another without any additional adaptation. This type of translation is generally sufficient for readers to understand the main points of the content, but it doesn’t always fulfill legal or financial requirements for the target country.
- Sworn translation: Sworn translation is an official translation that is legally valid in the target country. This type of translation must be performed by a qualified sworn translator, who must certify that the translation is accurate and complete.
Recommendations for technical translations
- Hire a professional translator Translating annual financial statements is a complex task that should be performed by a professional translator with experience in this field.
- Request a detailed quote: Before hiring a translator, it’s important to request a detailed quote that includes the price, due date, and the services included.
- Provide all necessary information to the translator: The translator will need all relevant information to produce an accurate translation, such as annual statements in the original language, financial and legal regulations in the target country, and any other pertinent information.
- Review the translation carefully: Once the translation is finished, it’s important to review it thoroughly to make sure the work is accurate, complete, and fulfills requirements.
blarlo, your ally in sworn translation and financial translation
At blarlo, we offer high-quality financial translation and sworn translation services, specialized according to the needs of companies and professionals that work in the financial world. We have a team of professional native translators with a wide range of experience translating financial documents. We offer translations of the following types of documents:
- Annual financial statements
- Financial reports
- Audits
- Issuance prospectus
- Financial contracts
blarlo is here to help with all of your translation needs. If you need financial translation or sworn translation services you can trust, don’t hesitate to contact us. Our team will help you present your financial information accurately and securely.
