The role of the proofread is to weed out errors that have slipped through, and ensure a consistent style has been maintained across the novel. It occurs after a copyedit has taken place and any changes from that edit have been taken in. It is not a time for big changes or rewrites, but a final eagle-eyed review of your text. I cannot stress enough how important a proofread is before publication to ensure your novel is professionally published and to give it the best chance of success.
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