There are few regulations per se concerning standards of preparation of certified translations.
However, there are some unwritten rules as to what constitutes an acceptable or unacceptable translation.
Summarized translations are by and large unacceptable, unless the party requesting the translation specifically requests it. For instance, mortgage companies might actually request summarized bank statement translations, to avoid being buried in paperwork.
Thus, templates are also not acceptable. Some companies and individuals simply prepare templates, extracting bits and pieces of information from documents such as birth certificates, and prepare nothing more than a summarized translation. The Immigration Department (DHS) is known to frown upon such template translations, and paying money to obtain such services is wasteful.
Some information can be omitted from translated documents. For instance, of the document happens to be a form, the translator may use his/her discretion to omit sections that are not filled in. Personal documents issued in various countries, such as Brazil and Germany, can come with extensive descriptions of codes that might be used in documents. As long as any such information is decoded, it is not necessary to include such text. The important thing is to include all information that pertains to the individual or company.
Bad translations can also include overtranslation. For instance, translating names of cities that usually, are not translated into English, such as Sao Paulo and Buenos Aires. Thus, the translator should be cultured and experienced enough, and know what city and country names should be translated, and which should not.
Names of academic institutions normally are left in the original language, and may be followed by the name in parenthesis. The reason is simple - academic institutions in the USA do have lists of colleges in other countries, and translating the name into English can actually hinder the identification of the institution in the other country.
The least you can expect of a translator is to hold a college degree in the U.S.A. or abroad. Normally, those that do will provide the degree held (B.S., B.A., M.S, PhD, etc.) after their name. Rather unfortunately, there are some people in the business who are buying degrees from degree mills, so that if in doubt, you should ask identification of the institution that issued the degree. Institutions such as Walden University, Liberty University, etc, according to several sources, are not serious colleges.
Membership in professional associations, such as the ATA, and Chambers of Commerce is also a good sign. Do not be overly impressed with logos of Fortune 500 companies - a lot of companies place those logos on their sites, and might have never done any business with them.
