Reports can be in two states, Draft or Published.
Draft reports typically suggest that the report has been created, however it is not yet completed or approved for circulation to all asset stakeholders. When a report is saved in a 'Draft' state the report is only visible/editable to those users within the organisation that created the report until such time as it is published. All asset stakeholders for that asset are able to see that the report has been created but do not have access to the contents of the report.
Published reports suggest that the report has been created and is in its final state ready for circulation and viewing to all asset stakeholders.