Your software product has passed the technical evaluation, pricing discussions are complete, and an enterprise customer is ready to proceed. Then procurement asks for your latest SOC 2 report. You don’t have one.
When Australian SaaS companies enter larger markets, this situation presents an immediate challenge. Security assurance takes time, and a rushed, wrong assessment may not satisfy the customer’s requirements. The solution begins with understanding what the buyer expects and planning backward from the deadline.
First, find out exactly what was asked for, and by when, without rushing. Sometimes the request leaves more room than it first appears, so it’s worth asking before assuming.
Start by Learning Which SOC 2 Report Is Required
The level of assurance isn’t the same across every SOC 2 report. When responding to enterprise security requirements, the distinction between SOC 2 type 1 vs type 2 matters. At a particular date, Type 1 evaluates whether relevant controls are suitably designed. Type 2 examines their design and operating effectiveness over a defined period.
Many enterprise buyers specifically request Type 2 because it provides evidence covering actual operations, though some may accept Type 1 temporarily. Confirm the report type, required scope, and acceptable reporting dates with the customer before commissioning an examination.
Keep a written record of the answers, because 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.
Build Your Timeline Around the Observation Period
A SOC 2 type 2 examination can’t be finished just by preparing documentation and booking an auditor. The organization must operate its relevant controls throughout the reporting period. Subsequent reports commonly examine longer periods, but for an initial examination the period may cover three months.
Those activities must occur and be documented during the applicable window if your business needs to demonstrate access reviews, security training, or change approvals. Whether the requested report can realistically be delivered on time becomes clearer when you plan backward from a customer deadline.
If the deadline is tighter than the observation period allows, tell the customer early. Some customers are willing to discuss interim steps, such as a dated plan, when they hear about the gap early.
Know What You’re Actually Buying
Businesses frequently search for SOC 2 type 2 certification, although SOC 2 does not issue certificates.
A licensed CPA firm performs an independent examination against the applicable AICPA Trust Services Criteria and issues an attestation report. The report describes the assessed system, relevant controls, testing procedures, and the auditor’s opinion.
Often under a confidentiality agreement, that document is what customers typically review. A SOC type 2 report also covers a specific historical period. It doesn’t automatically give assurance about every change made afterward.
Costs to Know About Before You Begin
SOC 2 preparation involves more than an independent examination fee. Assistance with developing policies, conducting risk assessments, preparing evidence, training employees, and arranging security testing may be needed.
A SOC 2 compliance package priced at AUD $2,750 per month, excluding GST, over twelve months is advertised by Siege Cyber for businesses with up to 50 employees. The advertised offer applies to eligible contracts signed by December 31, 2026. Compliance preparation, training, a compliance platform, and external penetration testing are included in its package.
Billed separately is the independent CPA examination, with Siege Cyber indicating typical fees of approximately AUD 5,000–15,000, depending on scope and complexity. Before committing, confirm current pricing, eligibility, and deliverables.
When Your Report Is Already Out of Date
Suppose your Type 2 report covers January through June, but a customer requests assurance in October. The months in between aren’t examined by the report. Some customers may accept a management-issued bridge letter describing relevant changes since the reporting period ended.
Acceptance depends on the customer’s requirements, however, and a bridge letter does not replace an independent examination. Raise reporting gaps early instead of assuming an older report will satisfy procurement.
Get More From Your Compliance Investment Than One Contract
Siege Cyber provides Australian-based SOC 2 readiness support with fixed-price consulting packages and independent audit coordination. Connecting compliance preparation with actual operational responsibilities is the most useful approach for growing software companies.
Assign control owners, maintain security records, and establish a reporting schedule that supports future customer reviews. A successful SOC 2 project prepares your business for the next enterprise opportunity as well as answering the current request.
Keep the evidence you collect organized from the beginning, and the next audit cycle becomes less of a scramble.