Globalization spells good news for the financial services industry and means an expanded market for translation and localization specialists who can keep up with the fast-moving world of forex and online trading.
The financial world is an interconnected global marketplace. Changes in one country have an impact on markets everywhere, and international business transactions depend on rapid and accurate translation of financial documents, which in turn require an in-depth knowledge of the subject as well as perfect fluency in related terminology. The expertise of professionals who understand the complexities of financial documents is essential, and here are a few of the things that a specialist translator should be aware of.
Translating financial documents requires a heightened awareness of privacy. When you consider that the documents that come up for translation include annual reports, business plans, financial statements, sales projections, fact sheets, audit reports, policy documents, shareholder communications, public offering prospectuses, fact sheets, and press releases, the need for confidentiality becomes clear.
Playing by the rules
When international companies collaborate with American businesses (for example), they are required to file certain documents with American regulatory organizations, such as the Securities and Exchange Commission (SEC). This means having to translate multiple forms with data into English, which can only be done effectively by a language service provider that’s familiar with the industry and the regulations governing it.
Terms of endearment
Just as accounting methods differ, so does the terminology used in different regions. American English and British English use different financial terms which may appear to mean the same thing at first glance, but will reveal a faint difference in meaning after further investigation. Using the right terms in the right context is vital when working on financial translations, and good translators work with company officials to harmonize the glossaries of terms that are specific to the client’s company or industry and guarantee uniformity of usage.
At Argos Multilingual, financial translations are conducted by specialists with expertise in financial services and a detailed knowledge of the commonly used financial and legal terminology in the languages they are qualified in. They are up to date with current financial regulations, and they uphold ethical standards that enhance our credibility and reputation as well as their own. To find out more, get in touch with us.