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Please read the following statement, The date of the auditor's report is highly critical. This is a key milestone which has a great deal of

Please read the following statement,

"The date of the auditor's report is highly critical. This is a key milestone which has a great deal of significance, both for the auditor and for the client"

Required:

With reference to the statement above, explain why the date of the auditor's report is so significant and outline the typical procedures the auditor will apply at the closing stage of the audit engagement.

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