In journalism, a special report is an in-depth piece that investigates a particular subject matter. Specialized reporting can help journalists increase their credibility and provide valuable insight into complex subjects for their audience. These topics may be controversial, such as alleged wrongdoing or corruption, or they may be technical in nature and require a high level of understanding and expertise to write about.
During the day, special reports are broadcast when significant political stories break out of Washington that can require multiple stations to interrupt their normal programming in order to cover them. These events typically elicit national coverage and can trigger a special ticker or lower third graphics to convey the urgency of the story and compel viewers to watch. Special reports can last for a few minutes, or they can be sustained over hours or even days in order to provide continuous analysis about the event.
In accounting, a special report is a customized financial reporting document that deviates from the standard formats required by Generally Accepted Accounting Principles (GAAP). These unique reports are normally used to comply with contractual agreements or regulatory provisions and can include specified elements, accounts, or items of a financial statement. When a special report is prepared, an auditor should add an explanatory paragraph to the opinion section that describes why the unique reporting format is necessary, and refer to a note in the financial presentation that provides a description of the basis of presentation.