Exhibit 1 - Private Markets Deliverables and Percentages.xlsx

Exhibit 1 is a detailed spreadsheet outlining audit deliverables and percentage allocations for Real Assets and Private Equity audit processes. The document provides a comprehensive breakdown of audit activities across three primary phases: Audit Planning (35%), Audit Fieldwork (40%), and Reporting (25%) for both Real Assets and Private Equity audit tracks. Each phase includes specific deliverables and documentation requirements, such as audit engagement plans, risk and control matrices, testing work papers, entrance and exit meeting documents, draft and final audit reports, and management response documentation.

The spreadsheet indicates a structured approach to audit work, with equal percentage allocations for Real Assets and Private Equity audits, suggesting a standardized methodology across different investment asset classes. The detailed breakdown demonstrates a systematic approach to audit documentation, with clear expectations for each stage of the audit process, including planning, fieldwork execution, findings documentation, and final reporting. The percentages allocated to each phase reflect a methodical progression from initial planning through comprehensive testing to final reporting, ensuring thorough and consistent audit coverage.