Translation of annual reports and financial statements
At the beginning of the year, many people are busy preparing their company’s financial reports. While the year-end report is being put together, quarterly reports, interim reports and above all the annual report and sustainability statement must be factored into the planning. Read our tips on how best to fit translations into your busy schedule.
Not only do a company’s reports highlight its financial strengths, they are also a presentation of the year's efforts, visions and goals, and above all an opportunity to reach out with information about the brand.
It’s becoming increasingly important to make these reports accessible to foreign stakeholders as well, especially for listed companies. This is partly to enable shareholders to review the annual or quarterly figures, and partly to attract new investors and grow the company. In most cases, English is chosen as the primary language for translation, though other languages also play their part.
The right skills are essential
Financial reports and statements place high demands on the translator, and it’s essential to find the right person for the job. For example, an annual report is split into a front section, consisting of descriptive and promotional texts, and a fact-based back section, with figures and tables. Thus an annual report for a company in the steel industry will differ significantly from a report for a medical technology company, even though the terms in the financial section may be the same.
In addition to knowing financial terms, standards and guidelines such as FAR, IFRS and US GAAP, the translator must also be familiar with industry terminology and company-specific terms for your particular field. And because it’s also important that he or she learn your company's precise tone and style, we always make sure you get the same translator for all your texts.
What's more, financial reports require careful project management. The translation often has to get underway before the original has passed through all the relevant channels, which means changes will occur during the course of the work. There’s a lot to keep tabs on when there are multiple versions in circulation.
Our project managers are expert at setting up processes for revision versions, comments, last-minute press releases and short delivery times. The more information you can give us about publication dates, audit committee meetings, board meetings and anything else that may affect planning, the better. Get in touch with us as early in the process as possible, and we’ll find a good solution together and book your translator in good time.
We regularly translate annual reports and financial statements for listed companies and other businesses.
Confidentiality agreements and insider lists? Of course!
5 tips
- Create a schedule covering every step in the process.
- Contact us as soon as possible so we can book your specially assigned translator.
- Let us help you plan your translation and find the right working methods for layout, file formats, revision versions etc.
- Send us any reference materials, terminology lists and language or style guides, if available, so that the translator can become familiar with your specific phraseology and find your particular tone of voice.
- Give us feedback. We'll take all your comments on board to fine-tune our collaboration.