1. If you were a financial analyst looking at GE's metrics in Exhibit 1, what questions would you ask and why?
2. What responsibilities do auditors currently have related to the use of non-GAAP measures by their attest cli- ents? What responsibilities do you think they should have? Be specific.

EXHIBIT 1 General Electric Financial Metrics Fourth Quarter Results Total Year Results (Dollars in millions; except 2017 2016 Year on 2017 2016 Year on per-share amounts) Year Year 31-12-2018 GAAP Metrics Continuing Operations EPS $ (1.15) $ 0.39 U $ (0.68) $ 1.00 U Net Earnings EPS $ (1.13) $ 0.39 U $ (0.72) $ 0.89 Total Revenues $ 31,402 $ 33,088 -5.0% $1,22,092 $ 1,23,693 -19 Industrial Margin 1.1% 12.0% (1090) bps 5.7% 11.4% (570) bps GE CFOA $ 6,990 $ 11,618 -40% $ 11,040 $ 29,960 -63% Non-GAAP Metrics Industrial Operating + $ (1.23) $ 0.46 U $ (0.45) $ 1.49 U Verticals EPS Industrial Segment Organic $ 28,712 $ 30,503 -6% $1,09,430 $1,09,296 0% Revenues Industrial Operating $ 3,526 $ 5,226 -33% $ 13,868 $ 15,558 -11%% Profit/(Loss) Industrial Operating 11.2% 16.8% (560) bps 12.1% 14.0% (190) bps Profis/(Loss) Margin) Adjusted Industrial CFOA" $ 7,757 $ 8,242 -6% $ 9,698 $ 11,610 -16% bps = book value per share CFOA = cash flow from operating activities a) Excluding deal taxes and GE Pension Plan funding, and with BHGE on a dividend basis b) Excludes impact of acquisition and disposition activity in industrial segments c) Excludes non-operating pension, gains/(losses) and restructuring & other