Tips for a successful Economic Translation

For many companies of the world community, presenting documents in other countries means taking forms and information from the source language and translating it into the output language. In fact, the translation of financial documents for the international market implies the use of a highly specialized provider of linguistic services. In order to preserve the reputation of the company and its capital, use the following tips for choosing a qualified financial translator.

  1. Stay informed. Financial translators need to know about the latest regulations and laws affecting the global financial services industry. In addition, they should usually meet all the established requirements of monitoring organizations.
  2. Industrial knowledge and experience. In the financial translation services industry, there are translators with specific areas of expertise and experience, just as there are specialists in medical, legal, and corporate sectors. Look for a team of experienced financial translators who specialize in the accurate interpretation of financial terminology between languages ​​and a diverse business culture. Joint-stock companies with international operations require that highly specialized financial translation services improve and speed up their audit processes, the results of which should significantly improve their continued compliance with the strict requirements of regulatory authorities.
  3. Fast turnaround. Most financial translation providers are not going to say that they are proud of the slow turnover. In addition to the promise of a translation agency for a quick and accurate translation, pay close attention to the project management system and quality control mechanisms. Look at a clear understanding of the problems experienced by audit professionals in obtaining fast and accurate transfers of foreign financial documents to meet the stringent requirements of the Law.
  4. Attention to detail. You are responsible for the accuracy of the documents you submit – not your translation agency or financial translator. For example, some international monitoring organizations require participants to install and maintain monitoring systems to ensure that the actions of their registered representatives and associated people (in this case, the transfer firm) comply with applicable laws and regulations. To meet these standards, the intermediary or company representative must take the steps necessary to ensure that the translation that is presented is accurate, regardless of who provided it to the interpreter. Under the rules of many supervisory bodies, the intermediary or representative of the company must make sure that the translator is qualified, or receive such guarantees from the client, if he hires an interpreter, or examines the translator’s qualifications independently.

Therefore, work with a supplier who has multiple internal checks, such as reverse translation and project management processes, to ensure accuracy and completeness in the translation of documents.

  1. The moral code. Professionals in financial translation require universal ethical norms that will guide and protect the interpreter during his work regimes, and also support the standards of the profession as a whole. The rules of international organizations require that participants observe high standards of commercial honor the simple and equal principles of trade in the conduct of their business. It also prescribes that the actions of their registered representatives and related people (in this case, the translation agency) comply with applicable laws and regulations. Determining if you work with an ethical translation company is not an exact science, but it can be based on a combination of checking its links and processes, as well as its industry reputation.
  2. Translation memory tools. The translation memory software analyzes the duplicate text in the source documents and then queries the database to identify the previously translated segments. Because there is a lot of repetition in various financial documents, the translation memory tools guarantee the consistency of terminology, speed up future versions and reduce the costs of human resources. These tools should not be confused with machine translation software, which is not applicable for the translation of most financial documents.
  3. Contact the professionals. An economic transfer that meets the above requirements can help companies with international operations improve and speed up their control processes. Financial translators of our company significantly improve the continued compliance of our global customers with stringent requirements. They are sensitive to the details of the financial translation, and also have an understanding of privacy and privacy laws, as they relate to registration and audits, in the financial translation space.
Tips for a successful Economic Translation обновлено: October 5, 2017 автором: azurit