Financial Statement and Audit Report Translation - By Accountants, With Every Figure Reconciled

What financial statements are read for, and by whom

A set of financial statements - the statement of financial position (balance sheet), the statement of profit or loss and other comprehensive income (income statement), the statement of cash flows, the statement of changes in equity and the notes - with the auditor's report and the management report tells a reader what a company owns, owes, earns and spends, and whether an independent auditor believes the picture is fair. Georgian companies translate them for foreign banks and lenders assessing credit, for foreign tender committees checking financial capacity, for foreign parent companies and investors, for foreign tax authorities and for foreign courts and arbitral tribunals in disputes; foreign companies translate them into Georgian for Georgian banks opening accounts and lending, for the Georgian state procurement system, for the Revenue Service in audits and transfer pricing reviews, for the National Bank and other regulators, for Georgian courts, and for the Public Service Development Agency where a residence permit rests on a company's activity. Each reader has thresholds and ratios it computes from the statements, and each computes them from the translation.

Terminology: IFRS, national GAAP and the words for the same line

Georgian companies report under IFRS or the IFRS for SMEs, with statements in Georgian and, for many, in English; foreign companies report under IFRS, US GAAP, the German HGB, the Italian codice civile and OIC standards, the French plan comptable général, the Turkish TFRS and uniform chart of accounts, the Russian RAS, the Chinese ASBE, the Indian Ind AS and dozens of national frameworks, each with its own line-item names, note structures and audit report wording. The same line is "trade and other receivables" under IFRS, "Forderungen aus Lieferungen und Leistungen" under HGB, "crediti verso clienti" in Italy and a different Georgian term in each context, and an auditor's unmodified opinion is phrased in prescribed words in each framework. Our financial translators are accountants who know the frameworks, translate line items into the terminology the reader's framework uses, keep the terminology consistent across the statements, the notes and the audit report, and flag where a national concept has no IFRS equivalent rather than inventing one; audit reports are translated in the standard wording of the ISA-based or national audit report so that the reader recognizes the opinion at once.

Figures: reconciliation before delivery

Financial statements are tables, and tables are where translation errors hide and where readers find them. Every figure in a translated statement - every line, subtotal, total, note reference and comparative - is reproduced exactly from the source and then reconciled: subtotals are re-added, totals are checked against subtotals, note figures are checked against the face of the statements, comparatives are checked against the prior year's translation where we have it, and decimal and thousands separators are converted correctly for the target language (a German or Turkish comma is a Georgian or English point, and a figure in thousands or millions is labeled as such). A second reader who is also an accountant performs the reconciliation independently of the translator. Currencies are never converted; amounts stay in the reporting currency with the currency stated, and where the reader needs a conversion the note in the source or a separate schedule provides it. The translation is delivered in the original layout - a spreadsheet or a formatted document that mirrors the source - so that a credit analyst can compare the two page by page.

Banks, tenders, tax authorities and regulators

Each reader wants a specific package. Banks and lenders want the last two or three years' audited statements with the audit reports and, for facilities, the management accounts, the aging analyses and the covenant compliance certificates, and they want the translation certified or notarized depending on their policy; we translate the package consistently across years and keep the glossary for the covenant reporting that follows. Tender committees want audited statements and the financial capacity forms filled from them, within days of the notice, and they disqualify for formal defects, so we translate the statements and complete the forms in the tender's format on its deadline. Tax authorities want statements, tax computations, transfer pricing documentation and tax residency certificates, translated for audits and treaty relief, with the terminology of the tax law rather than of accounting where the two differ. Regulators - the National Bank of Georgia for financial institutions, insurance and securities supervisors, energy regulators - want statements and reports in their prescribed formats, and we translate to the format.

Annual reports, consolidations and transaction documents

Beyond the statements themselves, we translate the annual report in full - the chairman's statement, the strategic and management report, the corporate governance and sustainability sections, the remuneration report - for parent companies, investors and stock exchange disclosures, with the narrative sections handled by financial editors who write in the register of the destination's annual reports; consolidated financial statements with their consolidation schedules and intercompany reconciliations for groups with Georgian subsidiaries; interim and quarterly reports on their reporting calendar; and the financial documents of transactions - due diligence reports, valuation reports, completion accounts, closing statements and the financial representations in share purchase agreements - with the legal team that handles the transaction, so that the accounting and the legal terminology match. Financial documents are handled under NDA with restricted access and, where required, on secure client platforms.

Pricing, timing and how to order

Financial statements and audit reports are priced per page at the financial tariff, which reflects accountant translators and reconciliation, with a modest supplement for rare languages; notarization per act where a reader requires it, and the apostille at the state fee plus handling for statements going abroad. A set of statements with notes and the audit report is translated in two to four business days; a full annual report in one to two weeks with a team; a tender package within days of the notice; recurring reporting under a framework agreement on the client's calendar.

To order, send the statements, notes and audit report as PDFs or spreadsheets on email, WhatsApp or Telegram, and tell us the reader - bank, tender, tax authority, regulator, parent company - and the country; the quote arrives within the hour with the format and certification level we recommend. Delivery is by email in the original layout, with notarized paper copies collected at Agmashenebeli 117, near Marjanishvili Metro, or couriered anywhere.

Frequently asked questions

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