Accounting forms a significant part of information on any enterprise and plays the most important role in different levels of enterprise' management as well as in country's. Accounting information is used by various information users, whose decisions may influence various spheres: from performance of enterprises to proceeding the state policy. Its role increased recently under conditions of modern global and competitive market economy, and will be increasing in the future. Importance of accounting information usage highlights the need of appropriate formation of such information. And accounting regulation plays the main role in the process of formation and presentation of accounting information as it determines requirements for accounting methodology, information performed in the single set of financial statements or consolidated financial statements. The purpose of the research is to evaluate evolution of accounting regulation for the period 1990 -2017 and distinguish accounting regulation evolution phases and factors, which influenced development of the phases. Six countries, which are members of the European Unionthe Republic of Croatia, the Czech Republic, the Republic of

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The issue of fraud is topical in every country and for every type of organization, regardless of the continent or the part of the world. Getting involved into a fraud scandal, the future reputation becomes doubtful from the potential investors' and customers' point of view. Many authors have discussed the nature of fraud and have conducted research on the topic. The fraud triangle is the most popular model of explaining the nature of fraud. Regardless of the clearness of the elements of the fraud triangle, researchers have defined its components differently. In the typology of fraud, the components included are also different and the paper presents several examples. Different authors have created new types of the fraud models. For periodization the authors composed the timeline from 1950 to 2016. The chronology and concept of 15 fraud models from 1984 to 2016 are given. An extensive review of the concept of fraud and financial statement fraud is completed in the paper. Comparing to previous studies, the paper suggests a more complete review of the models describing the nature of fraud. One possible implication of this study is a justified need to research the topic in the future.

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