---
schema_version: "secwatch.filing_event.v1"
accession: "0000924805-22-000074"
form_type: "8-K"
ticker: "FRHC"
cik: "0000924805"
company_name: "Freedom Holding Corp."
filed_at: "2022-11-15T23:59:59+00:00"
generated_at: "2026-06-21T19:11:43.816297+00:00"
event_type: "regulatory"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Freedom Holding restating FY2022 10-K and Q1/Q3 FY2022 10-Qs due to cash flow misclassification

## Summary
- Prior financial statements no longer reliable; cash flow classification errors require restatement.
- Loans issued misclassified as operating instead of investing; deposits from banks as operating instead of financing.
- Misclassifications had no impact on operating performance or reported KPIs.
- Material weakness identified in control activity over cash flow classification; disclosure controls and ICFR deemed ineffective.
- Company plans to restate as soon as practicable; discussed with auditors WSRP and Deloitte Kazakhstan.

## SEC filing metadata
- accession: 0000924805-22-000074
- form_type: 8-K
- ticker: FRHC
- cik: 0000924805
- company_name: Freedom Holding Corp.
- filed_at: 2022-11-15T23:59:59+00:00
- event_type: regulatory
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 4.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/924805/000092480522000074/0000924805-22-000074-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/924805/000092480522000074/frhc-20221114.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000924805-22-000074
- JSON: https://secwatch.observer/filing/0000924805-22-000074.json
- Plain text: https://secwatch.observer/filing/0000924805-22-000074.txt

## Key facts
- Auditor Changes
  Freedom Holding Corp. reported that prior financial statements should not be relied upon.
  - Action: non reliance
  source text: On November 14, 2022, the Audit Committee (“Audit Committee”) of the Board of Directors of Freedom Holding Corp. (the “Company”), after discussion with management, concluded that the Company’s (i) previously filed Annual Report on Form 10-K for the fiscal year ended March 31, 2022 and (ii) previously filed Quarterly Reports on Form 10-Q for each of the quarterly periods ended December 31, 2021 and June 30, 2022 (collectively the “Prior Financial Statements”), and any reports, related earnings releases, investor presentations or similar communications of the Company’s Prior Financial Statements should no longer be relied upon.
  evidence_url: https://www.sec.gov/Archives/edgar/data/924805/000092480522000074/0000924805-22-000074-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.