Accounting documents will always be a significant portion of the work that is done by financial translators. Not only is the financial translation of an accounting document a precise task that requires great focus and expertise, but translators must keep themselves apprised of any changes that are being made to accounting standards, terms and laws.
What does this mean for a financial translation?
International Accounting: Accounting Changes
One of the major changes that has taken place over the past few years in the accounting world is the shift towards an International Finance Reporting Standard. Now we have a new accounting language that is used whenever a public company is preparing their financial statements. Visit our blog.
But what does this mean for a financial translation? It means that translators who may have more experience with accounting in the United States need to familiarize themselves with the new standards if they are to remain relevant in their field.
More than 120 countries around the world are now encouraging or requiring their companies to submit their accounting paperwork in accordance with the IFRS framework.
A New Standard
Translators must be aware of the increased complexity that is brought on by the new IFRS framework. It is a standardized framework, but it also introduces many complex concepts and terms that translators may not be aware of. New standards are also being issued ever year, which means translators must keep up with any changes that may impact their work down the road.
How Can We Help?
With close to a decade of experience in assisting companies with their financial translation needs, we at SemioticTransfer AG are in a fantastic position to assist your firm as the new IFRS framework becomes a reality in many countries around the world.
Our accounting translators work tirelessly to familiarize themselves with the new standard, while they also put in a lot of work to keep up with any changes that are made within the framework. If you require a financial translation of accounting documents, our company is the best way for you to get a high quality and precise translation in a timely manner.
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