Why entrust the
translation of international financial statements only to experts?
Financial statements aggregate the accounting documents regularly
prepared by a company to ensure financial compliance. Each company must
provide them to meet the transparency obligations and demonstrate the accuracy
of its heritage situation. They are presented in successive periods to
determine the economic result of the year.
Financial statements
are an essential official document for businesses. They must therefore be
treated with the utmost rigour in the translationphase. But which companies need to use international financial statement translation
services?And for what reason?
The main beneficiaries of this service are companies that
operate internationally. These include banks, financial intermediaries,
insurance companies and publicly traded companies. These companies have
one thing in common. They must all comply and comply with the accounting
parameters and principles established by international bodies such as the IASB
(International Bureau of Accounting Standards).
Translation of IAS
and IFRS financial statements
Any company operating
in Europe is required to comply with a common accounting rules
system. Hence the requirement to have international financial statements
translated into other
languages, including English. The translation of financial statements in line with international accounting principles such as
the IAS (international accounting standards) and THE IFRS (international
financial reporting standard) enhances the image of The company. In
addition, it provides an assessment to stakeholders. The translation of this accounting document is therefore a business card to improve the
reputation on an international scale.
These complex content
requires high specialization. Even a qualified financial translator must have extensiveaccountingknowledge. The above compliance rules require accounting firms and translators of international financial
statements to constantly
update their knowledge.
Recommendations for
choosing financial statement translation services
If
you have found a trusted
translator, we recommend that you keep it preciously. There are two
reasons for this. First,translation agencies that are really
specialized in this sector are rare (we are one of them!). Second,
financial statements can be prepared quarterly, semi-annually or
annually. Over time, a document can be edited or completed. It is
essential to respect the consistency of terminology between the different
versions. Entrust changes or additions to a single vendor to ensure
consistency, compliance, accuracy and quality of translations.
