they research and offer financial advice for companies lend money and provide underwriting services insurance companies require payments for certain aspects of life such as homeowner ship and automobiles they offer packages based on activity and risk pooling the risks of groups with similar risks
The SOC1 (SSAE16 Type II) audit is widely recognized for the intensive scrutiny it puts service organizations through, in terms of their control activities related to information technology and related processes.
Definition: Share of Cost (SOC) It is easiest to think of Share of Cost (SOC) as a partial acceptance into the Medicaid program (or Medi-Cal in California). It is intended to assist individuals whose incomes exceed the Medicaid limit but who have unusually high medical expenses which they cannot afford.