A special report is a financial report that deviates from the standard format of Generally Accepted Accounting Principles (GAAP). These unique reports address specific information needs while maintaining professional standards and clarity. For example, an entity may prepare a special report for a large donor providing detailed cost allocations and outcome measurements beyond what is normally included in a financial statement. Another common type of special report is a compliance report, which is often required to satisfy contractual agreements or regulatory requirements.
In journalism, the term special report is used to refer to an in-depth piece that investigates a specific subject. These types of articles are typically written about controversial topics, such as alleged wrongdoing or corruption, and require a high level of understanding and expertise to write about effectively. Specialized reporting can help journalists increase their credibility and provide valuable insight into complex subjects for their audience.
In the field of auditing, a special report is a document that summarizes research findings and results based on systematic investigations. These documents are designed to present first-hand verifiable information in a clearly structured format, and they should also include a literature review that analyzes existing knowledge on the subject being investigated. In addition to the body of the document, a special report should include an expert opinion section that discusses the implications of the research on the current state of knowledge.
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