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. Nothing like that exists yet.
When Australian SaaS companies enter larger markets, this situation presents an immediate challenge. Rushing into the wrong assessment may not satisfy the customer’s requirements, and security assurance takes time. The solution begins with understanding what the buyer expects and planning backward from the deadline.
Begin calmly by finding out exactly what was asked for and by when. It’s worth asking before assuming, since the request sometimes leaves more room than it first appears.
Which SOC 2 Report Does the Customer Need?
Different SOC 2 reports provide different levels of assurance. The distinction between SOC 2 type 1 vs type 2 matters when responding to enterprise security requirements. Whether relevant controls are suitably designed at a particular date is what Type 1 evaluates. 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. Confirm the report type, required scope, and acceptable reporting dates with the customer before commissioning an examination.
The report type, scope, and dates drive both the plan and the budget, so write the answers down. Where the customer’s requirements are unclear, ask for the exact wording in the contract or the security questionnaire.
Let the Observation Period Drive Your Timeline
A SOC 2 type 2 examination cannot be completed simply by preparing documentation and scheduling an auditor. Relevant controls must be operated by the organization throughout the reporting period. An initial examination may cover a period of three months, whereas subsequent reports commonly cover longer ones.
Access reviews, security training, or change approvals that your business needs to demonstrate must occur and be documented during the applicable window. Work backward from the customer deadline to find out whether the requested report can realistically be delivered on time.
Tell the customer early if the deadline is tighter than the observation period allows. 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 describes the assessed system, relevant controls, testing procedures, and the auditor’s opinion.
That document is what customers typically review, often under a confidentiality agreement. A SOC type 2 report, too, relates to a specific period in the past. It does not automatically provide assurance about every change made afterward.
Count the Costs Before You Start
An independent examination fee is only part of the cost of SOC 2 preparation. Assistance with developing policies, conducting risk assessments, preparing evidence, training employees, and arranging security testing may be needed.
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. 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. Check current pricing, eligibility, and deliverables before you commit.
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 report does not examine the intervening months. Some customers may accept a management-issued bridge letter describing relevant changes since the reporting period ended.
Still, whether it’s accepted depends on the customer’s requirements, 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 Investment Work Beyond 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.
Keeping the evidence you collect organized from the start also makes the next audit cycle less of a scramble.