Tran Nguen Bao Ngo1 and Andrea Tick2

1University of Danang
  Danang, Vietnam
2Óbuda University
  Budapest, Hungary

INDECS 19(3), 375-390, 2021
DOI 10.7906/indecs.19.3.3
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Received: 17thJuly 2020.
Accepted: 14th May 2021.
Regular article


The rise in cybercriminal activities in recent years has sparked concern about the costs of technological advancement and the growing reliance of humans on technology. The seriousness of this situation in the business world is indeed more noteworthy and more prominent than other areas, prompting many people to wonder how external auditors - who are responsible for identifying any accounting flaws - will respond to cybersecurity-affected businesses - the ones which can make an honest effort to mask and conceal their difficulties and challenges from their investors and stakeholders. Consequently, the aim of this study is to search whether external auditors focus harder on cybersecurity-attacked firms and businesses by charging higher audit fees. The study found a positive correlation between audit fees and breach employing a sample of 100 global small-, medium-sized, and large businesses. This indicates that external auditors find more risks and spend more effort while auditing cybersecurity-attacked businesses.

audit fees, cybersecurity risks, OLS model

JEL:A29, C12, G30, Y80

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