A financial document is never just text. It is a combination of figures, international standards and legal responsibility, where one incorrectly translated term gives a foreign investor, a bank's credit committee or an auditor a false picture of the company's position. That is why financial and business translation is a separate, specialised practice with us: it is handled by translators who have practical knowledge of accounting, audit and corporate finance, not only linguistic qualifications.
Why a financial document cannot be translated by a general translator
Financial terminology is standardised and has one correct equivalent. A "deferred tax liability" is exactly that, and not a "postponed tax"; "retained earnings" are retained earnings and not "kept income"; "impairment" is impairment, while a "provision" in the context of a balance sheet is a liability item and not a "regulation". A general translator translates these words according to the dictionary, and each such error makes the document look unprofessional in the eyes of a finance specialist.
An additional difficulty is that Georgian accounting is based on the International Financial Reporting Standards (IFRS), while a partner country's document may be built on US GAAP or a local national standard. The translator must know where these systems coincide and where they do not, so that concepts are not mixed up in the translation.
Terminological precision: one term, one meaning
IFRS and the Georgian accounting standards
Our translators work on the basis of the official Georgian terminology of IFRS recognised by the Service for Accounting, Reporting and Auditing Supervision (SARAS). This means that the translated statements are written in the same terms that a Georgian auditor, accountant and bank analyst use every day.
Figures, currency and dates
In financial translation the error often hides not in a word but in the format. In an English-language document the thousands separator is a comma and the decimal separator a point (1,250,000.50); in continental European documents it is the other way round. Negative figures are written in brackets in one system and with a minus sign in another. The date format (month/day/year or day/month/year) leads to a reporting period being misread. In every document we keep to one format agreed in advance and write currency designations (GEL, USD, EUR) according to the ISO 4217 standard.
Areas of financial translation
Financial and business documentation falls into five main categories, each with its own terminology, format and receiving audience:
- Translation of audit reports: the independent auditor's report, audited financial statements and explanatory notes with the terminology of the ISA standards
- Translation of balance sheets: the statement of financial position, the income statement and the cash flow statement with the tabular structure fully preserved
- Translation of business plans and investment presentations: the business plan, financial forecast, pitch deck and materials intended for investors
- Translation of tax returns and bank statements: returns, bank statements, tax reconciliation acts and credit history
- Translation of customs and import documentation: the commercial invoice, customs declaration, certificate of origin and trade contracts based on Incoterms
Confidentiality and corporate NDA
Until an audit is completed, a deal is closed or statements are published, financial information is often non-public, price-sensitive information. Our confidentiality system is built on exactly this reality:
- An NDA with every contributor: the translator, editor and project manager work under a signed non-disclosure agreement
- The client's own NDA form: if your company or audit firm has its own confidentiality agreement, we sign it before starting work
- Encrypted transfer: files move only over an encrypted channel, not by open email or public messengers
- A limited retention period: after the project is completed the files are deleted within a period agreed in advance
- Narrow access: only the people who directly need it work on a given project
Quality standards: the principles of ISO 17100 and ISO 9001
The process of working on a financial translation follows the logic of the ISO 17100 standard (requirements for translation services): the translation is done by a translator with subject-matter qualifications, then an independent editor compares it in full with the original, and finally a numerical check is carried out, in which every amount, total and percentage is verified one by one against the source. The principles of ISO 9001 ensure that the process is documented and repeatable: for a regular client a term approved once is translated the same way in every subsequent document.
The working process for a corporate client
- Analysis and assessment of the material: the volume, format, deadline and the type of certification needed are established within one working day
- Agreeing the terminology base: the company's specific terms (names of products, departments, accounts) are approved in advance
- Translation and editing: two-stage linguistic control
- Numerical check: a technical check of tables, totals and cross-references
- Formatting and certification: restoring the visual structure of the original and, where needed, certification by a notary or with the agency's seal
Who needs financial translation most often
- companies with foreign capital that send their statements to the head office for consolidation
- audit and consulting firms that serve international clients
- export and import companies from which a foreign bank or partner requests financial documentation
- startups and growing companies that approach a foreign investor or an international fund
- banks and microfinance organisations that analyse a foreign borrower's documents
- companies taking part in tenders where proof of financial standing is needed in a foreign language
Languages and certification
We translate financial documentation into English, German, Russian, Turkish, French, Chinese and other languages, in both directions. For a document to be submitted officially abroad we provide notarization and, where needed, advice on the apostille procedure, so that the translation fully meets the requirements of the receiving country.
Frequently asked questions
How does financial translation differ from ordinary written translation?
Financial translation requires standardised terminology (IFRS, ISA), precision of numerical format and an additional verification stage. It is handled by a translator with accounting and audit knowledge, not a general-profile specialist.
Can you sign our company's confidentiality agreement?
Yes. Before starting work we sign the client's NDA form, and by internal standard all of our contributors work under a signed confidentiality agreement anyway.
How do you ensure the correctness of figures in the translation?
After the linguistic editing a separate numerical check is carried out: every amount, total, percentage and table grid is verified one by one against the original.
Which standards do you rely on in quality control?
The process follows the requirements of ISO 17100 (translation, independent editing, final verification), while terminological consistency is ensured by the documented process principle of ISO 9001.
Is notarization of a financial translation possible?
Yes. An audit report, financial statements or a bank statement are notarized for official submission abroad, while for internal corporate use certification with the agency's seal is sufficient.
How long does the translation of annual financial statements take?
The deadline depends on the volume and is set exactly at the assessment. Standard annual statements together with the explanatory notes usually take several working days, and in urgent cases we work with a parallel team while keeping a single terminology base.