I executed bsmconv script "/etc/security/bsmconv". It is failing with the following message,

This script is used to enable Solaris Auditing and device allocation.
Shall we continue with the conversion now? [y/n] y
bsmconv: INFO: turning on audit module.
bsmconv: INFO: initializing device allocation.

The Basic Security Module is ready.
If there were any errors, please fix them now.
Configure BSM by editing the files located in /etc/security.
Reboot this system now to come up with BSM enabled.
open /dev failure: No such file or directory
open /dev failure: No such file or directory



Please help me to findout the exact reason for the failure. I am logging in as root.