Final answer:
The primary purpose of an internal auditor's exit meeting is to present the final audit results and recommendations to management, not to review auditor performance or require corrective action, albeit these topics may be discussed. Thus, the option "3" is the correct answer.
Step-by-step explanation:
The purpose of the exit meeting for the internal auditor is primarily to present the final engagement communication to management. This meeting serves as a platform for the auditor to report the audit findings, share any issues identified during the audit process, and provide recommendations for improvements. The exit meeting may also address areas where corrective action is needed to resolve any discrepancies or deficiencies found. While it’s not the primary purpose, the exit meeting can help review the performance of the internal auditors and verify the appropriateness of the engagement communication based on client input, thus ensuring the audit's objectives have been met satisfactorily. However, the meeting is not directly focused on performance appraisals of auditors themselves, which typically occur at separate times and with a more formalized process. Similarly, while action may be required as a result of the audit findings, the exit meeting itself does not 'require' corrective action but recommends it.
Performance appraisals are documented several times a year, often linked to the original job analysis and the achievement of set goals. They include face-to-face meetings where supervisors communicate concerns and positive feedback about an employee's performance, which may lead to performance rewards or documented evidence for termination decisions in the case of poor performance.
Take action: Use the feedback from performance evaluations to improve upon identified weaknesses, seek regular feedback, and review your work plan to stay on track with your performance objectives.