A special report takes an in-depth look at a particular subject. It can be about a topic that has been in the news, or it can be an academic or research study. Regardless of the subject, the special report will be a detailed account of the research process and its results. In addition, the special report will highlight any implications that it may have for existing research knowledge in the field of study. It is important to write the report with the audience in mind as this will determine the tone of the report. For example, a general audience will want the report to be simple and accessible while a more specialized audience would need the report to include technical information and details.
A special report is a customized financial report that deviates from standard reporting. This type of report addresses unique information needs and is a common practice for governmental entities, non-profit organizations, and private companies. It can also be used to demonstrate compliance with certain aspects of contractual agreements or regulatory provisions related to audited financial statements. Creating a special report requires understanding specific information needs and reporting objectives while maintaining professional standards and clarity. A special report can be done as a separate engagement or can be performed alongside a normal financial statement audit. It is often prepared when an entity presents its financial information using a basis of accounting that differs from GAAP and a regular audit has been performed on the corresponding GAAP-based financial statements.
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