Fraud is one of the most negative factors of society. Because of frauds, some companies experience many financial and even business continuity problems. The article analyses the theory of the fraud triangle and its transformation into a square. Their various elements -motives, possibilities, pressure, rationalisation, incentive and others -suggested by different authors are presented. The article provides a theoretical analysis of fraud scales and their elements: motives, conditions, possibilities, and performance.

Analysis of the concept of internal control system is an important subject that involves the analysis of the latest scientific results, and on its basis to perform an updated analysis of the concept of internal control system which meets the modern business conditions and tendencies. Such an assumption has been made upon exploring famous scientists' concepts of internal control system, in which the basic values needed for internal control system: (honesty, trust, respect, openness, skills, courage, economy, initiative, etc.) were not included. Only a modern concept of internal control might ensure an effective internal control system.The main purpose of the authors was to explore control, the concepts and conceptions of control, internal control and the system of internal control, as well as to present their own idea of the concept of internal control system and to compile a structural scheme of their conception. The structural scheme may alleviate the process of compiling a new model of an effective internal control system. The structural scheme of the conception may also be used in compiling a model of internal control system in different branches of industry.

Different economic environments differ in their characteristics; this prevents the usage of the same bankruptcy prediction models under different conditions. Objectively, the abundance of bankruptcy prediction models gives rise to the idea that these models are not in compliance with the changing business conditions in the market and do not meet the increasing complexity of business tasks. The purpose of this study is to assess the suitability of existing bankruptcy prediction models and the possibilities to increase the effectiveness of their application. In order to analyze theoretical aspects of the application of bankruptcy forecasting models and frame the research methodology, a systemic comparative and logical analysis of the scientific literature and statistical data, graphic data representation, induction, deduction and abstraction are employed. Results of the analysis confirm research hypotheses that bankruptcy prediction models based on macroeconomic variables are effective in identifying the number of corporate bankruptcies in a country and that the application of the model created on the grounds of macroeconomic indicators together with the traditional bankruptcy prediction model can improve the reliability of bankruptcy prediction. However, it was identified that models which are not specially adapted to companies in the construction sector are also suitable for forecasting their bankruptcies.

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