Identify fish in report (5)
I believe the answer is:
place
'identify' is the definition.
(synonyms)
'fish in report' is the wordplay.
'fish' becomes 'plaice' (plaice is a kind of fish).
'in report' shows a homophone (sound like) (ie reportedly, we hear).
'plaice' sounds like 'PLACE'.
(Other definitions for place that I've seen before include "Location; put" , "Locate" , "Spot" , "Put in - winning position" , "vacancy" .)