An enterprise customer is ready to proceed: your software product has passed the technical evaluation and pricing discussions are complete. Then procurement requests your latest SOC 2 report. You don’t have one.
For Australian SaaS companies entering larger markets, this situation creates an immediate challenge. Rushing into the wrong assessment may not satisfy the customer’s requirements, and security assurance takes time. Start by understanding what the buyer expects, then plan backward from the deadline.
Begin calmly by finding out exactly what was asked for and by when. The request can leave more room than it first appears to, so ask before you assume.
Confirm Which SOC 2 Report the Customer Needs
SOC 2 reports don’t all provide the same level of assurance. Enterprise security requirements make the distinction between SOC 2 type 1 vs type 2 matter. Type 1 looks at whether relevant controls are suitably designed as of a particular date. Type 2 examines their design and operating effectiveness over a defined period.
Some enterprise buyers accept Type 1 for a time, yet many ask specifically for Type 2 because it provides evidence covering actual operations. Before commissioning an examination, confirm the report type, required scope, and acceptable reporting dates with the customer.
Write the answers down, since the report type, scope, and dates all drive the plan and the budget. Should the customer’s requirements be unclear, ask to see the exact wording in the contract or the security questionnaire.
The Observation Period Sets Your Timeline
Preparing documentation and scheduling an auditor isn’t enough to complete a SOC 2 type 2 examination. Relevant controls must be operated by the organization throughout the reporting period. Subsequent reports commonly examine longer periods, but for an initial examination the period may cover three months.
Access reviews, security training, or change approvals that your business needs to demonstrate must occur and be documented during the applicable window. By planning backward from a customer deadline, you can see whether the requested report can realistically be delivered on time.
If the deadline is tighter than the observation period allows, tell the customer early. A dated plan is one interim step that some customers are willing to discuss when they hear about the gap early.
What Exactly Are You Paying For?
Businesses frequently search for SOC 2 type 2 certification, although SOC 2 does not issue certificates.
A licensed CPA firm issues an attestation report after performing an independent examination against the applicable AICPA Trust Services Criteria. The report covers the assessed system, relevant controls, testing procedures, and the auditor’s opinion.
Customers typically review that document, often under a confidentiality agreement. A SOC type 2 report also relates to a specific historical period. Changes made afterward aren’t automatically covered by its assurance.
What Will SOC 2 Preparation Cost?
An independent examination fee is only part of the cost of SOC 2 preparation. Businesses may need assistance developing policies, conducting risk assessments, preparing evidence, training employees, and arranging security testing.
Siege Cyber advertises a SOC 2 compliance package for businesses with up to 50 employees, priced at AUD $2,750 per month, excluding GST, over twelve months. Eligible contracts signed by December 31, 2026 are covered by the advertised offer. Compliance preparation, training, a compliance platform, and external penetration testing are included in its package.
The independent CPA examination is billed separately, with Siege Cyber indicating typical fees of approximately AUD 5,000–15,000, depending on scope and complexity. Check current pricing, eligibility, and deliverables before you commit.
What if Your Existing Report Is Out of Date?
Your Type 2 report might cover January through June, and then a customer requests assurance in October. The report does not examine the intervening months. Some customers may accept a management-issued bridge letter describing relevant changes since the reporting period ended.
A bridge letter does not replace an independent examination, and acceptance depends on the customer’s requirements. Don’t assume an older report will satisfy procurement; discuss reporting gaps early.
Get More From Your Compliance Investment Than One Contract
Australian-based SOC 2 readiness support, with fixed-price consulting packages and independent audit coordination, is provided by Siege Cyber. Connecting compliance preparation with actual operational responsibilities is the most useful approach for growing software companies.
Control owners should be assigned, security records maintained, and a reporting schedule established to support future customer reviews. A successful SOC 2 project prepares your business for the next enterprise opportunity as well as answering the current request.
Keeping the evidence you collect organized from the start also makes the next audit cycle less of a scramble. Reviewing responsibilities and schedules at regular intervals helps controls keep operating between audits.