Company: SVREW
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001013762-25-001028
Chunk: 132

Company: SaverOne 2014 Ltd.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 15
Chunk 132
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ITEM
15. CONTROLS AND PROCEDURES

(a)
Disclosure Controls and Procedures

Our
management, with the participation of our Chief Executive Officer and Chief Financial Officer, has evaluated the effectiveness of our
disclosure controls and procedures (as such term is defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act) as of December 31,
2024, or the Evaluation Date. Based on such evaluation, we and those officers have concluded that, as of the Evaluation Date, our disclosure
controls and procedures were not effective due to a material weakness in our internal control over financial reporting related to lack
of sufficient internal accounting personnel and segregation of duties. See “ Item 5. E - Operating and Financial Review and Prospects - Critical
Account Estimates - Internal Control Over Financial Reporting” for additional information.

(b)
Management’s Annual Report on Internal Control over Financial Reporting

Our
management is responsible for establishing and maintaining adequate internal control over financial reporting, as such term is defined
in Rule 13a-15(f) under the Exchange Act. Our management conducted an assessment of the effectiveness of our internal control over financial
reporting as of December 31, 2024 based on the criteria set forth in Internal Control - Integrated Framework (2013) issued by the
Committee of Sponsoring Organizations of the Treadway Commission (2013 framework). Based on that assessment, our management concluded
that our internal control over financial reporting was not effective as of December 31, 2024, due to ineffective controls over period
end financial reporting, which is considered as a “material weakness”.

As
defined in Regulation 12b-2 under the Exchange Act, a “material weakness” is a deficiency, or combination of deficiencies,
in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of our annual
or interim consolidated financial statements will not be prevented, or detected on a timely basis.

As
of December 31, 2024, our internal control over financial reporting was ineffective due to the lack of sufficient internal accounting
personnel and segregation of duties. Although we have taken certain measures to address the identified material weakness such as appointing
in 2024 a SOX consultant to assist us with assessment of Sarbanes-Oxley compliance requirements and improvement of overall internal controls,
implementing internal policies and procedures related to internal control over financial reporting and hiring additional internal accounting
and financial staff with appropriate public company