News type icon

04/07/2016 - EFRAG Open Call for Tenders related to IFRS 16 Leases

​EFRAG has issued today an open call for tenders to assist EFRAG in its impact analysis of IFRS 16 Leases. EFRAG is specifically looking for economic and behavioural expertise as input for EFRAG’s endorsement advice on leases.


​EFRAG is looking for economic and behavioural expertise to assist in its ex ante impact analysis of IFRS 16 Leases. This will serve as an input to EFRAG’s endorsement advice to the EC on whether IFRS 16 would be conducive to the European public good.

The maximum all-inclusive value of the contract is 250.000 euro.

IFRS 16’s requirements to account for most leases on balance sheet might affect the economic and business decisions (‘behaviour’) of listed companies, lenders and investors. The contractor should gather evidence to help assess the expected nature and extent of relevant behavioural changes.  The contractor should apply appropriate research techniques to obtain evidence about such behavioural changes.  The contractor should analyse the expected correlation between the behavioural changes and economic consequences (positive and negative) in the EU.

EFRAG will also consider the impact on the leasing industry. Should the research indicate that IFRS 16 is expected to lead to a significant reduction in leasing volumes, the contractor should analyse the direct impact of this on the leasing industry in the EU, and whether this would result in a significant reduction in the availability of leasing as a source of finance (if applicable).

EFRAG is also requested to consider the impact on SMEs. If evidence and analysis of the economic consequences indicates that adopting IFRS 16 is expected to result in a significant reduction in the availability of leasing as a source of finance to EU companies (listed and unlisted), the contractor should separately analyse the effects on EU SMEs in general.

EFRAG is also conducting its own activities supporting the development of the endorsement advice, including field-testing, surveys and outreach events. The contractor is expected to cooperate with EFRAG to coordinate activities in areas where they might overlap or involve addressing the same audience. The EC letter with the endorsement advice request to EFRAG can be found here.

The call for tenders can be downloaded here. The Information Form and Draft Contract form part of the call for tenders. The Information Form can be downloaded here. The Draft Contract can be downloaded here.

Tenders, which should include a completed and signed Information Form and all information specifically requested in the call for tenders, should be sent to EFRAG at call.for.tender@EFRAG.ORG no later than 22 July 2016, 18.00 hrs Brussels time.