Professional English Translation for Auditing

In the era of globalization, English translation specialized in auditing and accounting plays an extremely important role, contributing to enhancing reputation and expanding opportunities for businesses and organizations. 

This article will analyze the importance, challenges and effective solutions for English translation in this field.

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What is the English major in auditing? 

Auditing in English is Auditing. Auditing is a specialized field that focuses on examining and verifying the accuracy of financial records. 

Auditors play an important role in assuring stakeholders, such as investors, creditors and regulators, that financial information is reliable and fairly presented.

>>> See more: Economic English Translation

Types of documents that need to be translated into English in the fields of auditing and accounting

Below are some types of documents that often need specialized English translation in auditing and accounting:

• Translate financial reports into English: Including balance sheet, income statement, cash flow statement, statement of changes in equity.
• Management report: Includes detailed information on operating performance, financial analysis, financial forecasting, business strategy.
• Accounting policy: Includes regulations on accounting, bookkeeping, internal control, asset management, debt management.
• Minutes of meeting: Archive the contents of accounting and auditing meetings.
• Contracts: Contracts related to accounting and auditing services.
• Tax reporting: Includes tax forms, invoices, and tax-related documents.
• Documents relating to investments: Includes documents on securities and investment funds.
• Correspondence and emails: Communicate with customers, partners, tax authorities, auditing agencies.
• Risk Management Report: Business risk analysis, risk control plan.

>>> See more: Translate business license into English

The best English translation service for auditing today

No.1 Translation is a pioneer in the field of translation, proud to provide professional English translation services in the field of Auditing, ensuring accuracy, clarity and ease of understanding, helping businesses enhance their reputation and expand international cooperation opportunities.

We are committed:

• All translators have professional English proficiency, certified by prestigious organizations such as IELTS, TOEFL, TOEIC.
• Professional translators in Auditing and Accounting are well-trained, have extensive professional knowledge of international auditing and accounting standards and regulations (ISA, IFRS), and have a good grasp of accounting regulations of each country.
• Our team of translators has 5 years of experience in translating Audit documents.
• We can provide Notarized translation according to customer requirements.
• Customer support in the legal document translation other.

>>> See more: Legal English Translation

Cost of English translation in the auditing industry

Below is English translation price list At Translation Number 1, latest update 2024 you can refer to:

Summary of common English vocabulary in auditing

Below is a summary table. English vocabulary for auditing Common that you can refer to:

Common English terms in auditing

• Adjusting journal entries (AJEs) /əˈʤʌstɪŋ ˈʤɜːnᵊl ˈɛntriz/: adjusting journal entries summary table

• Internal Control over Financial Reporting (ICFR) /ɪnˈtɜːnᵊl kənˈtrəʊl ˈəʊvə faɪˈnænʃᵊl rɪˈpɔːtɪŋ/: internal control over financial reporting

• Information Produced by the Entity (IPE) /ˌɪnfəˈmeɪʃən prəˈdjuːst baɪ ði ˈɛntɪti/: information produced by the enterprise (provided as audit evidence)

• Generally Accepted Auditing Standards (GAAS) /ˈʤɛnərəli əkˈsɛptɪd ˈɔːdɪtɪŋ ˈstændədz/: generally accepted auditing standards

• Management Review Controls (MRC) /ˈmænɪʤmənt rɪˈvjuː kənˈtrəʊlz/: management review controls

• Sarbanes-Oxley Act, 2002 (SOX) /sɑːˈbeɪnz ˈɒksli ækt/: Sarbanes-Oxley Act (SOX Act)

• Segregation of Duties (SoD) /ˌsɛɡrɪˈɡeɪʃən ɒv ˈdjuːtiz/: division of duties

• Standard Operating Procedures (SOP) /ˈstændəd ˈɒpəˌreɪtɪŋ prəˈsiːdʒəz/: standard operating procedures

• Top-Down Risk Assessment (TDRA) /tɒp daʊn rɪsk əˈsɛsmənt/: risk assessment using a top-down approach

• Test of Control (TOC) /tɛst ɒv kənˈtrəʊl/: test of control

• Test of Details (TOD) /tɛst ɒv dɪˈteɪlz/: the process of checking and comparing documents and records to verify necessary information

• Current assets /ˈkʌrᵊnt ˈæsɛts/: current assets (short-term assets)

• Controlled program /kənˈtrəʊld ˈprəʊɡræm/: controlled program

• Depreciation of intangible fixed assets /dɪˌpriːʃiˈeɪʃᵊn ɒv ɪnˈtænʤəbᵊl fɪkst ˈæsɛts/: depreciation of intangible fixed assets

• Depreciation of fixed assets /dɪˌpriːʃiˈeɪʃᵊn ɒv fɪkst ˈæsɛts/: depreciation of fixed assets

• Depreciation of leased fixed assets /dɪˌpriːʃiˈeɪʃᵊn ɒv liːst fɪkst ˈæsɛts/: depreciation of leased fixed assets

• Expenditure cycle /ɪksˈpɛndɪʧə ˈsaɪkᵊl/: cost cycle

• Maker checker /ˈmeɪkə ˈʧɛkə/: maker checker principle

• Payroll cycle /ˈpeɪrəʊl ˈsaɪkᵊl/: payroll cycle

• Production cycle /prəˈdʌkʃᵊn ˈsaɪkᵊl/: production cycle

• Reserve fund /rɪˈzɜːv fʌnd/: reserve fund

• Revenue cycle /ˈrɛvɪnjuː ˈsaɪkᵊl/: revenue cycle

• Audit sampling /ˈɔːdɪt ˈsɑːmplɪŋ/: audit sample

>>> See more: Terminology in English translation of accounting

Common English phrases in auditing

• Taxes and other payables to the State budget /ˈtæksɪz ænd ˈʌðə ˈpeɪəblz tuː ðə steɪt ˈbʌʤɪt/: Taxes and other payables to the State budget
• Reclassification journal entries (RJEs) /ˌriːˌklæsɪfɪˈkeɪʃən ˈʤɜːnl ˈɛntriz/: Reclassification journal entries
• Written narrative of internal control /ˈrɪtn ˈnærətɪv ɒv ɪnˈtɜːnl kənˈtrəʊl/: Written narrative of internal control
• Provision for devaluation of stocks /prəˈvɪʒən fɔː ˌdiːvæljʊˈeɪʃən ɒv stɒks/: Provision for devaluation of stocks
• Random number generators /ˈrændəm ˈnʌmbə ˈʤɛnəreɪtəz/: Random number generators
• Profit from financial activities /ˈprɒfɪ frɒm faɪˈnænʃəl ækˈtɪvɪtiz/: Profit earned from financial activities
• Extraordinary income /ɪksˈtrɔːdnri ˈɪnkʌm/: Extraordinary income
• Check and take over /ʧɛk ænd teɪk ˈəʊvə/: Check and take over
• Extraordinary profit /ɪksˈtrɔːdnri ˈprɒfɪt/: Extraordinary profit
• Extraordinary expenses /ɪksˈtrɔːdnri ɪksˈpɛnsɪz/: Extraordinary expenses
• Aged trial balance of accounts receivable /eɪʤd ˈtraɪəl ˈbæləns ɒv əˈkaʊnts rɪˈsiːvəbl/: A detailed balance sheet analyzed by age of debt.

Websites that support online English translation of auditing

Some of the following popular translation websites will provide free accounting translation services such as:

• Google Translate: Google Translate can translate basic accounting terms but it is not always accurate, especially with complex technical terms.
• DeepL Translator: DeepL Translator is highly regarded for its accuracy and ability to translate specialized terminology.
• SDL Trados: SDL Trados is professional translation software, used by many translation companies.

Auditing English Translation requires high precision, mastery of specialized terminology and understanding of the business cultural context. To ensure translation quality, choosing a professional and experienced translator is extremely necessary.

With a team of experienced translators in the field of auditing and finance, Digital Translation 1 is proud to be a trusted partner of businesses and organizations in translating auditing documents, ensuring accuracy, clarity, ease of understanding and compliance with international standards. Contact us today