FPP release procedure

Hello everyone,
I have a case to discuss regarding finished product release. We have the procedure to sample finished product & test it after secondary packing. After finished product testing QC gives report to QA, which prepares certificate of analysis (COA) for release. Should COA be issued immediately after finished product testing or it can be issued on a later date before dispatch? Is it mandatory for QA to place released labels on cartons after approval of COA?

How many days do your company need from the testing to release?I know a few companies could reduce the days by using FAT but more will wait COA.
If you don’t wait for COA,it would be very difficult to recall when there were any riskes.