Cyber Security Awareness and Firm-Level Readiness among Small and Medium-Sized Audit Firms in Nigeria

Abstract

The upsurge in the rate of cyber-attacks in nations globally, and Nigeria in particular is worrisome. For some reasons, accounting firms which stand in a unique position to perform advisory role on cyber security awareness to other companies have become preferred targets to cybercriminals since the emergence of Covid-19. Lack of adequate cyber security awareness and preparedness has been linked to the increase in the rate of cyber–attacks in Nigeria. This study examined the extent of firm-level preparedness on cyber security among small and medium-sized audit firms in Nigeria. Data were sourced from the employees of selected medium and small-sized audit firms using a questionnaire, and were analysed using summary statistics. The result revealed that the extent of firm-level readiness on cyber security is inadequate. It is recommended that more resources be committed to cyber security awareness and preparedness among medium and small-sized audit firms. This will enable them provide the required advisory roles to other firms and minimize the rate of criminalities in cyberspace.