It's hard to believe, but we're already eight weeks into 2020: it might be a start for some, but for others, it marks an end. We're talking about the financial year which has just come to an end, and it's time to get to work on your annual accounts, also known as financial statements, accounting statements, or financial reports.
Why should I translate my company accounts?
- Globalisation crosses borders: if your company is part of a multinational or has subsidiaries abroad, you'll most likely need to prepare your annual accounts in languages other than Spanish. A document as important as your annual accounts, which you need to present to partners, the board of directors, and shareholders, should be translated so that everyone who needs to understand them, can, regardless of the language they speak. Although a lot of the information will be in numerical format, it's important to understand that each language expresses numbers in a different way.
- Put a translation company in charge of the work: always remember that these types of translations are representative of your company image, so it's essential to guarantee they're done professionally. In this sense, the translator or translators who work on them should have proven training and experience in financial and legal translation. Annual accounts are confidential, so the translation should be carried out by a translation company that holds a quality certificate and can ensure the data is handled confidentially.
- Don't leave translations until the last minute: preparing annual accounts is a lengthy process and there are several documents to include: the balance sheet, profit and loss account, statement of changes in equity, cash flow statement, and a report. Just as the financial team needs time to prepare it all, translators need sufficient time to work with such sensitive information, to ensure that the final result maintains a level of trust in the company. The translator will need several days to translate and then review the documents. So, as with almost everything, the more time the translator has, the better!
At AT Language Solutions we've got more than 20 years' experience in the translation of annual accounts, and work with translators who specialise in financial sector translation. We also hold the ISO 9001 quality certification, which means we can offer our customers the highest level of security in the documents entrusted to us.
Do you need a quote for your financial translation? Contact us!