The IFRS Foundation said Wednesday it has completed the first phase of an effort to assess the state of progress on global adoption of International Financial Reporting Standards.

Leslie Seidman, the outgoing chair of the Financial Accounting Standards Board, spoke about her experiences leading the board and its work on the upcoming revenue recognition standard during a sometimes emotional speech Wednesday that will be the last of her term.

The Financial Accounting Standards Board responded to a post-implementation review of its accounting standard for business combinations by saying that it would consider the findings of the report, along with an upcoming post-implementation review of its fair value measurement standards, and may make changes once the International Accounting Standards Board concludes its own post-implementation review of the corresponding International Financial Reporting Standards.

A new academic study argues that proposed changes in fair value measurement by the Financial Accounting Standards Board would make it harder to assess the financial soundness of banks, and it’s co-authored by a member of the FASB board.

A post-implementation review of the Financial Accounting Standards Board’s business combinations standard found lingering questions in the minds of some investors, particularly about fair value, despite improvements in the usefulness of the information.

The Securities and Exchange Commission has adopted that latest update to the U.S. GAAP Financial Reporting Taxonomy for filing financial statements using Extensible Business Reporting Language, or XBRL.

The Financial Accounting Standards Board is looking for comment on proposed structural changes to the U.S. GAAP Taxonomy.