What Is a Special Report?

A special report is an audited financial report that deviates from the standard format of Generally Accepted Accounting Principles. These unique reports can be done separately or alongside a standard financial statement audit and help address specific information needs. Examples of these reports include applying agreed-upon procedures and reporting on internal control processes and results. These reports are also common when entities enter into contracts with government regulatory agencies that require independent verification of certain financial processes or reporting methods.

A key element of a special report is its introduction, where the researcher highlights the aims and objectives of their systematic investigation as well as the problem that it set out to solve. The researcher should also explain the implications of their findings for existing research knowledge in their field of study. This is where the researcher can also introduce a literature review which is a written survey of different research works that are relevant to their study.

In recent years, some major television networks have started using special reports for select breaking stories to avoid interrupting regular commercial advertising during a news program. These special reports are displayed at the top of the hour overlaid on the lower third of the screen, and can last for a few minutes or multiple hours or days depending on the story being covered. This method has helped to cut down on the need for commercial interruptions during a news program and to allow viewers to follow the story of interest without having to tune out to other programs.