"What are key understandings and issues evident in the transcription literature between 1979 and 2009? and What are the implications of these for qualitative research?" This very interesting journal article seeks to answer these research questions, and illuminates some of the important aspects of transcription for qualitative researchers.

Abstract 
Transcription is a practice central to qualitative research, yet the literature that addresses transcription presents it as taken for granted in qualitative studies. In this article the author provides a review of three decades of literature on transcription between 1979 and 2009. The review establishes core understandings and issues that have informed the transcription literature, including the ways it is said that transcription is overlooked in qualitative research. Discussion of the literature raises the need for more empirical studies that examine transcription in qualitative research, and suggests specific questions that qualitative researchers might address in relation to transcription and its reporting.

Davidson, Christina Rush. "Transcription: Imperatives for qualitative research." International Journal of Qualitative Methods 8.2 (2009): 35:52.