A special report is a journalistic term that refers to an article that takes a close look at a particular subject. The article may take a look at a controversial topic, such as alleged wrongdoing, or it can examine a technical or scientific subject. The article is often accompanied by illustrations and other visual representations. It also must meet certain academic standards.
The program, which originally aired on Fox News Channel from 1996 until Brit Hume’s retirement in 2008 and is currently anchored by Bret Baier, covers political stories breaking out of Washington and analyzes the effects of the nation’s capital on Americans and the world. The program is known for its in-depth coverage of breaking political news and incisive discussions of the day’s top stories. It is typically broadcast from Fox’s Capitol Hill studio in Washington, although on some occasions it is filmed at the network’s New York City studios.
In accounting, a special report is a customized financial report that deviates from the standard formats set by Generally Accepted Accounting Principles and can cover specific sections, accounts, or items of a financial statement. Preparing a special report requires understanding the unique information needs of its intended users and striking a balance between maintaining professional standards and providing clarity. If a special report is audited, the auditor must include an introductory paragraph to the financial presentation that describes the basis of accounting used for those elements, accounts, or items. See AT section 201, Agreed-Upon Procedures Engagements, for guidance on this reporting requirement.
