Scenario
We want to run a search on all reports where rebate payout has been traced and also identify the changes on those searches made by who and when.
Solution
To create a search of all reports go to:
Report> Saved Search> All Saved Search > New > Saved Search
Rebate Payout is Formula Field there for on the Criteria tab select standard as Formula (Text)
Standard: Formula(Text)
Description: is Rebate Payot
Formula: Result

To get the details of who makes changes on those searches and when.
go to the Result sub and add fields Last Run By, Last Run On, Date Modified, Created By
