How Much Does an Audit Report Translation Cost, and How Do Companies Quote?
In the context of a globalized economy, economic and trade exchanges between China and foreign countries have become increasingly close, and audit report translation services have become an indispensable part of the financial sector. Due to the high degree of professionalism of such translation services, strict requirements are imposed on the competence of translators and the qualifications of translation companies, resulting in generally higher translation prices for audit reports from formal translation companies. However, these prices are based on a reasonable market pricing system. So, what are the fees for audit report translation services?
The translation of accounting information such as financial reports, financial statements, and audit reports falls under the category of professional written translation. Translation companies usually offer pricing based on characters or pages/documents, taking into account factors such as document type and format. They then provide a formal quotation based on specific report content, language needs, and other requirements.
Here is an overview of the pricing standards for financial report translations by translation companies:
1.Impact of Translation Quality Standards on Price
The translation quality of professional financial audit reports needs to reach professional or native-speaker level or above. This requires that translation, proofreading, review, and other processes be completed by senior industry professionals or native-speaker reviewers to ensure an accuracy rate of no less than 97%. Compared to machine translation or standard translation with lower accuracy rates, high-quality translation services naturally come with higher quotes, with market reference prices starting at around 150-360 yuan per thousand characters.
2.Impact of Language Factors on Price
The language of translation is also an important factor affecting quotation. For example, there are differences in pricing between Chinese-to-English, Chinese-to-Japanese, Chinese-to-Korean, and their reverse translations. Furthermore, translations between foreign languages and translations into or from rare languages are even more expensive. In particular, translations into or from minority languages such as Portuguese, Dutch, Norwegian, Finnish, Hebrew, and Italian are priced far above those for Chinese-English translations.
3.Impact of Document Volume and Delivery Period on Price
The nature and operating scale of enterprises vary, leading to differences in the content structure, length, and volume of financial reports. These differentiated content structures directly affect the translation volume and, consequently, the translation quotation. In addition, the delivery period is also a crucial factor in determining the quotation. Urgent translation requests often require an additional 15-30% urgent fee.
Apart from the above factors, different translation platforms, translator qualifications, and other personalized translation service needs can also affect the actual quotation. Therefore, to obtain a more accurate quotation for audit report translation services, it is recommended that clients communicate their specific needs directly with the translation company.