Surveys indicate that the numerical gap between GAAP and non-GAAP profit measures is growing. Investor disquiet over executive remuneration (often based on non-GAAP earnings targets) has added fuel to a fire that has smouldered for many years. The result, non-GAAP or alternative performance measures (APMs) is back in the spotlight. Is there any hope of more light from the latest regulatory scrutiny? Are APMs a useful way of adding clarity of performance to investors or a way of burying bad news? Views vary.