The most common and most likely answer to this crossword clue is the 4 letter word PARS
I've seen this crossword clue in The Daily Telegraph
P
A
R
S
More clues leading to the result PARS
Buddy explains!

The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does PARS mean?
PARS noun- Equal value; equality of nominal and actual value; the value expressed on the face or in the words of a certificate of value, as a bond or other commercial paper.
- Equality of condition or circumstances.
- (mostly uncountable) The allotted number of strokes to reach the hole.
- A hole in which a player achieves par.
- An amount which is taken as an average or mean.
- To reach the hole in the allotted number of strokes.
- Young salmon, at a stage between fry and smolt when they feed chiefly on invertebrates but cannot tolerate saltwater.
- A young leveret.