Company: SVIX
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001013762-25-004207
Chunk: 1042

Company: VS Trust
Filing Date: 2025-03-28
Form: 10-K
Item: Item 8
Chunk 1042
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-15(e) and 15d-15(e)
under the Securities Exchange Act of 1934, as amended (the “1934 Act”)) were effective, as of December 31, 2024, to provide
reasonable assurance that information required to be disclosed in the reports that the Trust files or submits under the 1934 Act on behalf
of the Trust and the Funds is recorded, processed, summarized and reported, within the time periods specified in the SEC’s rules
and forms, and that such information is accumulated and communicated to management, including the principal executive officer and principal
financial officer, of the Trust as appropriate to allow timely decisions regarding required disclosure.

Management’s Annual Report on Internal Control Over Financial
Reporting

The Trust’s management is responsible for
establishing and maintaining adequate internal control over financial reporting of the Trust and the Funds, as defined in Rules 13a-15(f)
and 15d-15(f) under the 1934 Act. The Trust’s and the Funds’ internal control over financial reporting is a process designed
to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external
purposes in accordance with generally accepted accounting principles. Internal control over financial reporting includes those policies
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