Explain IASB/FASB roadmap for convergence to International Financial Reporting Standards (IFRS) was set up to accomplish

Explain IASB/FASB roadmap for convergence to International Financial Reporting Standards (IFRS) was set up to accomplish.
Describe at least 1 project that is being explored with regard to the roadmap and provide details about the objective and status of the project at this time.
What are the key differences in the project?
Do you believe that a single set of standards should be the goal of a global economy?
What are the benefits and barriers to this process?
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