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Reporting friday

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21 November 2013 what is the meaning of 'LAST FRIDAY OF SECOND PRECEEDING FORTNIGHT' in audit of Banks
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
21 November 2013 lets go by an example:

Today is 21 November 2013 (Thursday)

Preceding fortnight was from 2.11.2013 (Saturday) to 15.11.2013 (Friday).

Second preceding fortnight was from 18.10.2013 (Saturday) to 1.11.2013 (Friday).

Hence last Friday of second preceding fortnight was 1.11.2013

I hope this clarifies the concept.
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