Look in report for jetty (4)
I believe the answer is:
pier
'for jetty' is the definition.
(I've seen this in another clue)
'look in report' is the wordplay.
'look' becomes 'peer' (to peer at something is to look at it).
'in report' shows a homophone (sound like) (ie reportedly, \'we hear\').
'peer' sounds like 'PIER'.
(Other definitions for pier that I've seen before include "seaside location" , "One jutting into sea" , "Support for two adjacent bridge spans" , "Break-water or landing stage" , "Ripe as a jetty (4)" .)