Misses report - slipshod (5)
I believe the answer is:
lacks
'misses' is the definition.
('lack' can be a synonym of 'miss')
'report slipshod' is the wordplay.
'report' shows a homophone (sound like).
'slipshod' becomes 'lax' (I've seen this before).
'lax' is a homophone of 'LACKS'.
(Other definitions for lacks that I've seen before include "Wants, is deficient in" , "Needs" , "Has a want" , "Doesn't have" , "Is without, wants" .)