---
schema_version: "secwatch.filing_event.v1"
accession: "0000924805-23-000034"
form_type: "8-K"
ticker: "FRHC"
cik: "0000924805"
company_name: "Freedom Holding Corp."
filed_at: "2023-03-17T23:59:59+00:00"
generated_at: "2026-06-18T00:00:16.794347+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Freedom Holding Corp. restates FY2022, Q1-Q2 FY2023 cash flows; third non-reliance notice

## Summary
- Audit committee says FY2022 10-K and Q1, Q2 FY2023 10-Qs can no longer be relied upon due to cash flow classification error.
- Funds from Kazakhstan mortgage program '7-20-25' misclassified as operating activities instead of financing activities.
- Company states error had no impact on operating performance or reported KPIs; only cash flow classification affected.
- Third non-reliance notice in four months; prior issues involved loan classification and interest income, with material weaknesses identified.
- Management discussed matters with former auditor WSRP LLC and current auditor Deloitte Kazakhstan.

## SEC filing metadata
- accession: 0000924805-23-000034
- form_type: 8-K
- ticker: FRHC
- cik: 0000924805
- company_name: Freedom Holding Corp.
- filed_at: 2023-03-17T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 4.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/924805/000092480523000034/0000924805-23-000034-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/924805/000092480523000034/frhc-20230314.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000924805-23-000034
- JSON: https://secwatch.observer/filing/0000924805-23-000034.json
- Plain text: https://secwatch.observer/filing/0000924805-23-000034.txt

## Key facts
- Auditor Changes
  Freedom Holding Corp. reported that prior financial statements should not be relied upon.
  - Action: non reliance
  source text: 2 and September 30, 2022 (collectively, the “Relevant Prior Financial Statements”), and any reports, related earnings releases, investor presentations or similar communications of the Relevant Prior Financial Statements should no longer be relied upon. The determination resulted from an error in the Relevant Prior Financial Statements identified by the Company related to the classification of funds received under the Kazakhstan state program for financing of mortgage loans “7-20-25” within the Company’s statement of cash flows. Specifically, the Company determined that, in the Consolidated Statements of Cash Flows in the Relevant Prior Financial Statements, funds received under such program were presented as “Operating activities” whereas they should have been presented as “Financing activities” and that the misclassification of cash flows described above should be restated through amend
  evidence_url: https://www.sec.gov/Archives/edgar/data/924805/000092480523000034/0000924805-23-000034-index.htm

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