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CSR (corporate social responsibility)
All financial documents intended for an international audience should be translated, as should any documents that need to be shared with international business partners. These include balance sheets, profit and loss statements, tax returns and audit reports. Due to the internationalization of markets, many companies today are required by the authorities to publish their annual reports not only in German, but also in English or French, for example.
Financial and legal documents may require a legalized translation if, for example, you want to do business abroad or set up a company in another country. For example, it may be necessary to have the extract from the commercial register together with financial statement documents translated and certified for the authorities of another country.
The three most important financial documents are the income statement, the balance sheet and the cash flow statement.
Whether a company needs to have its annual reports translated depends on various factors, such as the size of the company, its business areas and its international activities.
If the company operates internationally and offers its products or services in different countries, it may be beneficial to translate the annual report into the languages of those countries to ensure better communication with customers and business partners.
In addition, certain legal requirements may stipulate that companies must translate their annual reports into certain languages, especially if they are listed on foreign stock exchanges or operate in foreign countries where specific laws require it.
In any case, the company should carefully consider the legal requirements and the needs of its target audiences to decide whether translation of the annual report is required.
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