Alexander Murychev Participated in the Conference on Internal Control and Audit
The XIX National Practical Conference "Internal Control and Audit in Russia: Enhancing Business Efficiency" was held in Moscow, organized by the National Association of Internal Auditors and Controllers (NOVAK). Alexander Murychev, RUIE Vice President, delivered the keynote address at the plenary session.
The conference's primary focus was the strategic sustainability of companies in the context of structural transformations. In his address, RUIE Vice President emphasized that companies must transition from merely documenting violations to actively managing future challenges: "The economy is entering a phase characterized by increased turbulence, and the internal control function has become an integral component of anti-crisis strategies".
Alexander Murychev provided a comprehensive analysis of the current macroeconomic environment for business operations. Drawing on RUIE monitoring data and official statistics, he identified three systemic risks confronting Russian enterprises:
Decline in Investment Activity.
By the end of 2025, investments in fixed assets had decreased by 2.3% for the first time in five years. According to a survey conducted by RUIE, 62% of civil sector companies reported a decline in profits by the end of 2025, with 40% experiencing a reduction of twofold or more.
Elevated Credit Risks and Liquidity Crisis.
Alexander Murychev drew attention to the emerging capital shortages within the banking sector and the escalating share of overdue debt on corporate loans, which is approaching double-digit figures. According to the Bank of Russia, the overdue debt of legal entities constituted 3.3% of the loan portfolio as of February 2026. He stated, "The liquidity and non-payment crisis is intensifying, businesses are depleting resources, and the likelihood of bankruptcies is rising".
Structural Staff Shortages.
Despite the economic slowdown, the labor market remains under significant strain. The unemployment rate in February 2026 reached its historical low of 2.1%. However, according to surveys by RUIE, some businesses are already contemplating staff reductions in the second half of 2026, posing the risk of concurrent labor shortages and hidden unemployment.
Alexander Murychev concluded that audit and risk committees should transition from retrospective analysis to scenario planning. He recommended that boards of directors consider three scenarios—base, stress, and optimistic—when approving development strategies, with clear trigger mechanisms for transitioning between them. The proposed triggers include the key interest rate, the ruble exchange rate, and the availability of liquidity. In the prevailing circumstances, internal control functions have become a crucial element of anti-crisis strategies and a tool for enhancing strategic business resilience.
During the discussion, participants — representatives from the Ministry of Economic Development, PSB, the Analytical Center for the Government of the Russian Federation, All-Russia Public Opinion Research Center (VCIOM), and "Opora Rossii" — examined potential scenarios for accessing financing for non-financial companies in 2026, including the contraction of the loan portfolio, adjustments to terms under existing credit lines, and the utilization of alternative financial instruments such as market bonds, return leasing, and transactions with development institutions.
The conference underscored the high standing of the professional community of internal auditors and controllers as an indispensable partner for businesses and the government in ensuring the sustainability of the Russian economy.