Things to consider before translating an annual report

Right, time for that again. The Swedish-language annual report has been produced, at least for the most part, and now needs to be translated into another language. But what do you need to bear in mind to ensure an accurate and professional translation of the annual report? 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 translation from Swedish into English, as by far the most common language combination in this context, but the principles and content are also applicable to other target languages.

Why translate an annual report?

Your annual report constitutes a very important document that presents key information regarding the company's performance during the past year as well as your future plans and prospects. Information that is used by investors and other stakeholders both within and outside Sweden. To provide an accurate and professional translation of annual reportone in English and possibly also other languages makes this important information available to relevant stakeholders in other countries and markets. Not least potential and existing investors, customers and business partners who need to be able to rely on the translated documentation as a basis for decision-making.

Therefore, it is important that the translated annual report is not only linguistically correct but also reflects the original in all material respects, including tone and message regarding aspects such as the company's values, ethical principles, sustainability initiatives, and so on. It is also important that due consideration is given to current regulations and accounting standards regarding the reporting of results, accounting policies, and sustainability data. All of this requires a thorough understanding of essential terminology issues and linguistic nuances, where our staff and other resources (such as the checklist below) are on hand to support the process. 

Good planning is the alpha and omega

When collaborating with us as your translation partner, it is crucial to plan and book the work well in advance so that the necessary resources—such as the most suitable translator and reviewer—can be pre-booked and informed about what to expect and when. This requires careful planning in relation to both internal and external requirements, such as deadlines for internal approvals and specified dates for external report publication. Perhaps this calls for planning and a translation process where the work begins in a structured manner even before the Swedish version of the report is finalized or approved?

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

Clear communication creates the right conditions

Equally important as good planning is clear communication before and during the process. In most cases, unnecessary misunderstandings or mistakes are rooted in deficient communication, something that can be avoided through clear communication regarding aspects such as:

• important deadlines (both internal and external) and milestones for any partial deliveries and progress reviews within the process
• clear division of responsibilities between the translation partner and current internal resources
• relevant internal documents and guidelines concerning, for example, linguistic style and tone of voice, approved terminology, values, brand profile and sustainability strategy
• copies of previous translations or other reference material such as ”good examples”
• contacts both internally 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 detailed work, the following section presents a checklist addressing important questions prior to start-up.

Checklist for quality assuring the translation of an annual report

This checklist for the work with translation of annual report aims to support and quality assure the work at a detailed level, save time and avoid unnecessary mistakes or misunderstandings. The current checklist is based on the translation of annual reports from Swedish into English, but is also applicable to other language combinations. In addition, the checklist can advantageously be used for other types of translation assignments within financial reporting, such as interim reports and the like.

✔️ GENERAL INFORMATION

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

Please also state the current contact persons including their role/area of responsibility in relation to the current assignment. The important thing with this contact information is to create a clear understanding of the division of responsibilities within the project, who is actively involved in the work and who is responsible for what.  

✔️ THE CURRENT TRANSLATION ASSIGNMENT

Description of the assignment, including scope, schedule and target audiences:

• State source language and target language, including 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 are expected to become available in stages, it is a good idea to specify several dates, including estimated partial volumes.
• Communicate any preferences or requirements regarding delivery time. Please describe as thoroughly as possible, including whether delivery is desired in stages (partial deliveries) for review and what fixed deadlines exist. These may include dates for external publication of the translated report, when the reviewed translation must be delivered at the latest to allow sufficient time for the internal work and approval process, as well as any deadlines for partial deliveries.
• Describe who the main target audiences for the translated report are.

✔️ REFERENCE MATERIAL

Please provide any reference material relevant to the current assignment. This should be material that can facilitate the work of the translator and reviewer, for example

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

Approved terminology – general and/or reporting-specific

• Is there a glossary of approved terminology regarding operations in general and/or financial reporting in particular? Or another document or material containing linguistic guidelines or similar?

Presentation of figures

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

Presentation of date and times

• Are there any guidelines or preferences regarding date and time formats? For example, whether 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 ”avdelningschef” and similar?

How some keyword to be written in translation

• Do you have a practice of writing certain keywords in a specific way in your Swedish-language reports, for example that ”Parent Company” and ”Group” are always written with an initial capital letter? And if so, should the same practice also be applied in the translation?

Untranslatables

• Words, terms or expressions to be left unchanged in translation. This could, for example, involve registered product or brand names used in all markets regardless of language, certain technical terms or special concepts that lack an exact equivalent in another language.

The checklist above contains examples of relevant questions that should be considered and answered before the translation process, but each assignment is unique and the detailed work will therefore be adapted to the current conditions. If you have any queries, our staff are happy to help with advice and suggestions.

Why choose Språkbolaget as a partner for annual report translation?

At Språkbolaget, we understand the importance of delivering a translation that captures the right nuances and details based on our client's requirements specification. Our team members are always on hand to assist and support you from start to finish, and our broad network consists of experienced translators and proofreaders who possess the necessary expertise to produce accurate and well-tailored translations depending on the target audience and other instructions. Naturally, always with regard to current regulations and standards.

We also understand that translating annual reports often involves handling sensitive and/or confidential information that must be protected in an appropriate manner, and we naturally apply strict procedures for this in line with applicable laws, regulations and industry standards for data protection, including 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 translation of annual report and other financial reports.