Freedom Holding Corp. Appoints Deloitte

Rhea-AI Summary

Freedom Holding Corp. (NASDAQ: FRHC) has appointed Deloitte LLP as its independent registered public accounting firm for the fiscal year ending March 31, 2023. This decision was announced in an 8-K filing and reflects the company’s commitment to robust financial oversight. Deloitte previously audited certain subsidiaries of Freedom Holding, replacing the U.S.-based firm WSRP, LLC. The company operates in 14 countries offering various financial services. The transition aims to enhance audit quality and corporate governance.

Positive

• Appointment of Deloitte enhances financial oversight.
• Deloitte's prior experience with subsidiaries may improve audit efficiency.

Negative

• Change in auditors may cause temporary disruptions in audit processes.

Board Approves Independent Registered Accounting Firm to Conduct Annual Audit for the 2023 Fiscal Year

ALMATY, Kazakhstan--(BUSINESS WIRE)-- In an 8-K filing today, Freedom Holding Corp. (Nasdaq: FRHC) announced that it had appointed the independent registered public accounting firm Deloitte LLP in Kazakhstan (“Deloitte”), a member of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, for the fiscal year ending March 31, 2023.

Deloitte, which had previously performed audits for certain Freedom Holding Corp. subsidiaries, replaces WSRP, LLC, a U.S.-based accounting firm.

About Freedom Holding: Freedom Holding Corp. provides financial services, retail financial securities brokerage, investment counseling, securities trading, investment banking and underwriting services through its subsidiaries. The company is headquartered in Almaty, Kazakhstan. The company has a presence in 14 countries, including Cyprus, the United States, Uzbekistan, the United Kingdom and Germany. The company's shares are traded on the Nasdaq Capital Market under the ticker FRHC.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221018006201/en/

Media contacts:

Deborah Kostroun

Phone: 201-403-8185

Email: Deborah@zitopartners.com

Source: Freedom Holding Corp.

FAQ

Why did Freedom Holding Corp. change its accounting firm?

Freedom Holding Corp. appointed Deloitte to enhance financial oversight and corporate governance.

What fiscal year will Deloitte conduct the audit for Freedom Holding Corp.?

Deloitte will conduct the audit for the fiscal year ending March 31, 2023.

Who was the previous accounting firm for Freedom Holding Corp.?

The previous accounting firm was WSRP, LLC.

What is the significance of appointing Deloitte for Freedom Holding Corp.?

Appointing Deloitte signifies a commitment to robust financial practices and may enhance the quality of audits.