Company: SVIX
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001013762-25-004207
Chunk: 761

Company: VS Trust
Filing Date: 2025-03-28
Form: 10-K
Item: Item 5
Chunk 761
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and procedures that: (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions
and dispositions of the assets of the Trust and the Funds; (2) provide reasonable assurance that transactions are recorded as necessary
to permit preparation of financial statements in accordance with generally accepted accounting principles, and that the Trust’s
and the Funds’ receipts and expenditures are being made only in accordance with appropriate authorizations of management of the
Trust on behalf of the Trust and the Funds; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized
acquisition, use or disposition of the Trust’s or the Funds’ assets that could have a material effect on the Trust’s
or the Funds’ financial statements.

Because of its inherent limitations, internal
control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future
periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance
with the policies or procedures may deteriorate.

28

Management, including the principal executive
officer and principal financial officer of the Trust, assessed the effectiveness of the Trust’s and the Funds’ internal control
over financial reporting as of December 31, 2024. Their assessment included an evaluation of the design of the Trust’s and the
Funds’ internal control over financial reporting and testing of the operational effectiveness of their internal control over financial
reporting. In making its assessment, the Trust’s management has utilized the criteria set forth by the Committee of Sponsoring
Organizations of the Treadway Commission (COSO) in its report entitled Internal Control – Integrated Framework (2013). Based
on their assessment and those criteria, management, including the principal executive officer and principal financial officer of the
Trust, concluded that the Trust’s and the Funds’ internal control over financial reporting was effective as of December 31,
2024.

Changes in Internal Control over Financial Reporting

There were no changes in the Trust’s or
the Funds’ internal control over financial reporting that occurred during the year ended December 31, 2024 that have materially
affected, or are reasonably likely to materially affect, the Trust’s or the Funds’ internal control over financial reporting.

Certifications

The certifications by the Principal Executive
Officer and Principal Financial Officer of the Trust required by Section 302 and Section 906 of the Sarbanes-Oxley Act of 2002, which