Things to consider before translating annual reports

So, it’s that time again. Your Swedish annual report has been prepared, at least for the most part, and now it’s time to translate it into another language. But what should you bear in mind to ensure an accurate, professional translation? Here, we guide you through the most important aspects of the work and the collaboration with us as your translation partner. The article is based on a translation from Swedish into English, which is by far the most common language pair in this context, but the principles and content are also applicable to other target languages.

Why translate your annual report?

Your annual report is a very important document. It presents key information about the company's performance over the past year as well as your future plans and prospects – information that is used by investors and other stakeholders in both Sweden and abroad. Providing an accurate, professional translation of the annual reportin English and other applicable languages makes this important information available to relevant stakeholders in other countries and markets, in particular potential and existing investors,select customers and business partners who rely on the translated documentation for their decision-making.

Thus it’s important that the translated report is not only linguistically correct but also reflects the original in all material respects, including its tone and message regarding such aspects as the company's values, ethical principles, sustainability initiatives and so forth. It’s also important that due consideration be given to current regulations and accounting standards in the reporting of financial performance, accounting policies and sustainability data. Taken together, these matters demand a thorough understanding of key terminological issues and linguistic nuance, where our staff and other resources (such as the checklist below) are readily available to support the process. 

Good planning is essential

When working with us as your translation partner, it’s crucial that we plan ahead and schedule the work in good time so that the necessary personnel, such as the most suitable translator and reviewer, can be booked in advance and informed of what to expect and when. This requires careful planning in relation to both internal and external requirements, such as deadlines for internal approvals and specific dates for external report publication. This may also call for project planning and a translation process in which structured work begins even before the Swedish version of the report is finalised or approved.

The benefits of thorough, well-executed planning cannot be overestimated. By starting the process early, any issues and challenges that occur along the way can be handled without creating unnecessary time pressure, thereby assuring quality within the agreed timeframe. The checklist below covers many of the most essential issues right from the start, thereby contributing to a time-efficient, quality-assured working process.

Clear communication creates the right conditions

Clear communication before and during the process is just as important as good planning. In most cases, unnecessary misunderstandings and mistakes are rooted in poor communication, something that can be avoided by clearly describing such aspects as:

• important deadlines (internal and external) and milestones for any partial deliveries and progress reviews during the process
• a clear division of responsibilities between the translation partner and relevant personnel
• copies of previous translations or other reference material such as ”good examples”
• copies of previous translations or other reference material such as ”good examples”
• designated contacts both in-house and at any communications or marketing agency
• information regarding aspects such as target language variety (for example British or American English), applicable accounting standards (such as IFRS or GAAP), primary target audiences for the translated report, and more.

To facilitate work in detail, the following section presents a checklist that addresses important matters prior to project start.

Quality assurance checklist for annual report translations

The purpose of this translation of annual reports checklist is to support and assure the quality of the work in detail, to save time and avoid unnecessary mistakes and misunderstandings. Although it is based on the translation of annual reports from Swedish into English, it’s also applicable to other language pairs. It can also be put to good use for other types of translation assignments in financial reporting, such as interim reports and similar.

✔️ GENERAL INFORMATION

Provide the relevant basic details regarding the company, organisation or business along with a description of the current assignment, for example “Translation of the 2025 Annual Report from Swedish to English”.

Also state the relevant contacts including their roles and/or areas of responsibility in relation to the current assignment. The contact information is important for creating a clear understanding of the division of responsibilities in the project, of who is actively involved in the work and who is responsible for what.  

✔️ THE CURRENT TRANSLATION ASSIGNMENT

Describe the assignment, including its scope, schedule and target audiences:

• State the source and target languages, including the language variety where relevant, such as British or American English
• Calculate the approximate volume (word count or page count)
• Agree a schedule for submitting the source documents to Språkbolaget. If the source texts will only become available in stages, it’s best to specify multiple dates along with estimated partial volumes.
• Make known any preferences or requirements regarding delivery time(s). Describe in as much detail as possible, including whether delivery will be in stages (partial deliveries) for review, and what the fixed deadlines are. This may include dates for external publication of the translated report, the latest date by which the reviewed translation must be delivered to allow sufficient time for internal work and the approval process, along with any deadlines for partial deliveries.
• Explain who the main target audiences for the translated report are.

✔️ REFERENCE MATERIAL

Provide any reference material relevant to the current assignment. This should include material that can facilitate the work of the translator and reviewer, such as

• copies of previous translations as ”good examples”
• any handbook, instructions or other material regarding linguistic style and tone of voice produced internally or in collaboration with a communications or marketing agency
• any material linked to your target audiences, from a linguistic perspective
• any handbooks, guides or other documents that will contribute to a better understanding of your organisation regarding aspects such as core values, corporate culture, ethical principles, codes of conduct and the brand profile and its sustainability strategy

The above list is not exhaustive and should be seen as examples.

✔️ SPECIFIC QUESTIONS – FINANCIAL REPORTING AND ECONOMIC TERMS

Current regulations and accounting standards

• Should IFRS or GAAP be used?

Approved terminology – general and/or specific to the report

• Is there a glossary of approved terminology regarding the business in general and/or financial reporting in particular? Any other documents or material containing linguistic guidelines or similar?

Presentation of figures

• Are there any guidelines or preferences regarding how numbers should be presented in running text, financial reports and tables?

Presentation of dates and times

• Are there any guidelines or preferences regarding date and time formats? For example, should times should be written in the 12 or 24-hour format.

Use of abbreviations

• Are there guidelines or preferences regarding the use of abbreviations in translated texts?

Job titles of key personnel in translation

• Is there a list of how titles of key personnel within the organisation should be translated into English, such as ”Head of Department” and similar?

How some keyword to be written in translation

• Do you write certain keywords in a specific way in your Swedish-language reports, for example, are ”Parent Company” and ”Group” always written with initial capital letters? If so, should the same practice also be applied in the translation?

Untranslatables

• Should any words, terms or expressions be left unchanged in translation such as registered products or brand names used in all markets regardless of language, certain technical terms or special concepts that lack exact equivalents in another language.

While the above checklist contains examples of issues that should be considered and resolved before the translation process begins, each assignment is unique and the detailed work will be tailored to the prevailing conditions accordingly. If you have any queries, our staff will be happy to help with advice and suggestions.

Why choosing Språkbolaget as your translation partner is a good idea

Språkbolaget understands the importance of delivering translations that capture all the right nuances and details, based on your requirements specification. Our team is always available to support and assist you from start to finish, and our extensive network comprises experienced translators and proofreaders who possess the necessary expertise to produce accurate, well-tailored translations according to the target audience and your other instructions. And always with regard to current regulations and standards, naturally.

We also understand that translating annual reports often involves handling sensitive and/or confidential information that must be appropriately protected, and we naturally apply strict procedures for this in line with applicable laws, regulations and industry standards for data protection, and we can also provide non-disclosure agreements where extra reassurance is required.

We hope this article has been of interest and look forward to discussing your current needs and future planning regarding the translation of annual reports and other financial reports.