Content Validity of Auditors’ Metacognitive Beliefs and Their Reflection on Auditors’ Professional Judgment

Abstract

The aim of the present study was to examine the content validity of auditors’ metacognitive beliefs and their reflection on auditors’ professional judgment. In this study, using thematic analysis and expert interviews, the components of auditors’ metacognitive beliefs were identified. In the quantitative section, the research hypothesis was tested using structural equation modeling and Smart PLS3 software. Data on auditors’ metacognitive beliefs were collected through a researcher-made questionnaire, and a standard questionnaire was used to measure professional judgment. This mixed-methods approach systematically examined the relationship between metacognitive beliefs and professional judgment. The qualitative findings of the present study indicated four overarching themes (1- enhancement of auditors’ professional self-awareness, 2- professional interactions and team coordination, 3- continuous learning and professional development, and 4- professional ethics and accountability), eleven organizing themes (the role of self-awareness in improving audit quality, risk management in a self-aware environment, improvement of cognitive processes in a professional environment, team coordination in a self-aware environment, professional response to criticism and feedback, interaction with emerging technologies in a professional environment, and auditors’ professional development in a self-aware environment), and forty-three basic themes. Furthermore, the findings from the quantitative section showed that auditors’ metacognitive beliefs have a positive and significant effect on their professional judgment. The results of this study indicate that metacognitive beliefs play a decisive role in improving auditors’ professional judgment and help them make more accurate and less error-prone decisions when facing ambiguities and complexities in the auditing environment. These findings not only provide a deeper understanding of the cognitive and metacognitive processes influencing professional judgment, but also offer a practical framework for policymakers to enhance audit quality and increase public trust in financial reporting by designing training programs and professional standards based on strengthening metacognitive beliefs. Moreover, this study represents an important step toward developing auditors who are not only equipped with technical knowledge but also possess the metacognitive capabilities necessary to address complex professional challenges.