---
title: "Provision of Research into IFRS16 Changes to the Treatment of Financial and Operational Leases"
ocid: "ocds-b5fd17-9a72a268-a07d-4b96-af08-7d3138065d08"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-b5fd17-9a72a268-a07d-4b96-af08-7d3138065d08"
markdown_url: "https://d3tenders.com/contract/ocds-b5fd17-9a72a268-a07d-4b96-af08-7d3138065d08.md"
json_url: "https://d3tenders.com/contract/ocds-b5fd17-9a72a268-a07d-4b96-af08-7d3138065d08.json"
source: "Contracts Finder"
current_stage: "Award"
buyer: "OFFICE FOR NATIONAL STATISTICS"
published: "2018-07-24"
---

# Provision of Research into IFRS16 Changes to the Treatment of Financial and Operational Leases

Buyer: OFFICE FOR NATIONAL STATISTICS  
Current stage: Award  
OCID: ocds-b5fd17-9a72a268-a07d-4b96-af08-7d3138065d08

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## Summary

The Office for National Statistics (ONS) has completed a procurement process for the tender entitled "Provision of Research into IFRS16 Changes to the Treatment of Financial and Operational Leases." This procurement, classified under the research services category (CPV code 73110000), took place in Newport, Wales. The procurement followed an open procedure and the contract was awarded on 24th July 2018, with the contract period commencing on 6th August 2018 and concluding on 28th September 2018. The total value of the contract amounts to £24,300.

This tender presents an opportunity for small and medium-sized enterprises (SMEs) with expertise in economic research and financial lease analysis to participate in the contract. By engaging in this project, businesses can contribute to important research that will influence the treatment of leases under new IFRS standards, thereby supporting growth in areas related to accounting, finance, and economic statistics. The expected output of the research can also enhance the visibility and credibility of participating firms within the industry.

## Notice

At ONS we have been following the debate around operational and finance lease changes under IFRS16. The current business account recording for leases (e.g. under IAS17) is considered to be broadly consistent with the recording required in the National Accounts under European System of Accounts 2010 (ESA 2010). However, there will no longer be comparability with the business accounting standards and the statistical standards when the new IFRS 16 comes into effect in January 2019. This opens a risk that ONS surveys and administrative data will record many more financial leases, across the sectors of the UK economy, than currently. It also opens up possibilities of double counting of assets as a result of the asymmetry between the lessor and lessee treatment within IFRS16. We have noted therefore that research is required to estimate the likely size and scale of the issue for economic statistics and identify areas where quality adjustments will need to be made to the National Accounts to maintain consistency with the current definition. The research will need to consider impacts by both industry and economic sectors

## Key Details

| Field | Value |
| --- | --- |
| Publication source | Contracts Finder |
| Latest notice | https://www.contractsfinder.service.gov.uk/Notice/270c7183-8d03-4d10-8ed7-ff6fd4e316fd |
| Notice type | Award Notice |
| Procurement type | Standard |
| Procurement category | Services |
| Procurement method | Open |
| Procurement method details | Open procedure (below threshold) |
| Tender suitability | SME |
| Awardee scale | SME |
| All stages | Award |

## Dates

| Field | Value |
| --- | --- |
| Publication date | 24 Jul 2018 |
| Submission deadline | 20 Jul 2018 |
| Future notice date | Not specified |
| Award date | 23 Jul 2018 |
| Contract period | 5 Aug 2018 - 28 Sep 2018 |
| Recurrence | Not specified |

## Values

| Field | Value |
| --- | --- |
| Tender value | £24,300 |
| Lots value | Not specified |
| Awards value | £24,300 |
| Contracts value | Not specified |

## Status

| Field | Value |
| --- | --- |
| Tender status | Complete |
| Lots status | Not specified |
| Awards status | Active |
| Contracts status | Not specified |

## Buyer

| Field | Value |
| --- | --- |
| Main buyer | OFFICE FOR NATIONAL STATISTICS |
| Locality | NEWPORT |
| Post town | Newport |
| Postcode | NP10 8XG |
| Country | Wales |
| ITL 1 | TLL Wales |
| ITL 2 | TLL5 South East Wales |
| ITL 3 | TLL54 Monmouthshire and Newport |
| Local authority | Newport |
| Electoral ward | Tredegar Park and Marshfield |
| Westminster constituency | Newport West and Islwyn |
| Delivery location | TLL Wales |

## Supplier

| Field | Value |
| --- | --- |
| Number of suppliers | 1 |
| Supplier names | EUROPE ECONOMICS |

## CPV Codes

### Divisions

- 73 - Research and development services and related consultancy services

### Codes

- 73110000 - Research services

## Release History

- 24 Jul 2018 at 12:21 - Award - Award Notice - https://www.contractsfinder.service.gov.uk/Notice/270c7183-8d03-4d10-8ed7-ff6fd4e316fd

## Documents

- https://www.contractsfinder.service.gov.uk/Notice/270c7183-8d03-4d10-8ed7-ff6fd4e316fd
  24th July 2018 - Awarded contract notice on Contracts Finder

## Provenance

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