Your software product has passed the technical evaluation, pricing is settled, and an enterprise customer is ready to go ahead. Then procurement asks for your latest SOC 2 report. You don’t have one.
This situation creates an immediate challenge for Australian SaaS companies entering larger markets. Security assurance takes time, and rushing into the 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. It’s worth asking before assuming, since the request sometimes leaves more room than it first appears.
Start by Learning Which SOC 2 Report Is Required
Not every SOC 2 report provides the same level of assurance. Knowing the distinction between SOC 2 type 1 vs type 2 matters when you respond to enterprise security requirements. Type 1 evaluates whether relevant controls are suitably designed at a particular date. Type 2 looks at the design of those controls and how effectively they operate 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. Check the report type, required scope, and acceptable reporting dates with the customer before you commission an examination.
Put the answers in writing; the report type, scope, and dates all shape the plan and the budget.
Plan Your Timeline Around the Observation Period
A SOC 2 type 2 examination cannot be completed simply by preparing documentation and scheduling an auditor. Throughout the reporting period, the organization must operate its relevant controls. That period may cover three months for an initial examination, while subsequent reports commonly examine longer periods.
If your business needs to demonstrate access reviews, security training, or change approvals, those activities must occur and be documented during the applicable window. Whether the requested report can realistically be delivered on time becomes clearer when you plan backward from a customer deadline.
When the deadline can’t be met within the observation period, say so to the customer early. A dated plan is one interim step that some customers are willing to discuss when they hear about the gap early.
Understand What You Are Actually Buying
Although SOC 2 does not issue certificates, businesses frequently search for SOC 2 type 2 certification.
A licensed CPA firm performs an independent examination against the applicable AICPA Trust Services Criteria and issues an attestation report. In the report you’ll find a description of 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. Assurance about every change made afterward isn’t automatically included.
Costs to Know About Before You Begin
More than an independent examination fee is involved in SOC 2 preparation. Assistance with developing policies, conducting risk assessments, preparing evidence, training employees, and arranging security testing may be needed.
For businesses with up to 50 employees, Siege Cyber advertises a SOC 2 compliance package at AUD $2,750 per month, excluding GST, over twelve months. The advertised offer applies to eligible contracts signed by December 31, 2026. Its package includes compliance preparation, training, a compliance platform, and external penetration testing.
Siege Cyber indicates typical fees of approximately AUD 5,000–15,000 for the independent CPA examination, which is billed separately, depending on scope and complexity. Before committing, confirm current pricing, eligibility, and deliverables.
What to Do When Your SOC 2 Report Has Aged
Your Type 2 report might cover January through June, and then 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. Rather than assuming an older report will satisfy procurement, discuss reporting gaps early.
Make Your Compliance Work Harder Than a Single Deal
With fixed-price consulting packages and independent audit coordination, Siege Cyber provides Australian-based SOC 2 readiness support. Connecting compliance preparation with actual operational responsibilities is the most useful approach for growing software companies.
Give each control an owner, keep security records, and set 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. Review responsibilities and schedules regularly so controls keep operating between audits.