Your software product has passed the technical evaluation, pricing is settled, and an enterprise customer is ready to go ahead. Then procurement requests your latest SOC 2 report. You have nothing to send.
For Australian SaaS companies entering larger markets, this situation creates an immediate challenge. Security assurance takes time, and rushing into the wrong assessment may not satisfy the customer’s requirements. Start by understanding what the buyer expects, then plan backward from the deadline.
A calm first step is to find out exactly what was asked for, and by when. Ask before assuming: a request sometimes leaves more room than it first seems to.
Which SOC 2 Report Does the Customer Need?
Not every SOC 2 report provides the same level of assurance. Enterprise security requirements make the distinction between SOC 2 type 1 vs type 2 matter. At a particular date, Type 1 evaluates whether relevant controls are suitably designed. Over a defined period, Type 2 examines both their design and their operating effectiveness.
Many enterprise buyers specifically request Type 2 because it provides evidence covering actual operations, though some may accept Type 1 temporarily. Prior to commissioning an examination, confirm with the customer the report type, the required scope, and acceptable reporting dates.
Write the answers down, since the report type, scope, and dates all drive the plan and the budget. Where the customer’s requirements are unclear, ask for the exact wording in the contract or the security questionnaire.
Plan Your Timeline Around the Observation Period
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. 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. Planning backward from a customer deadline helps identify 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.
Understand What the Examination Delivers
Although SOC 2 does not issue certificates, businesses frequently search for SOC 2 type 2 certification.
A licensed CPA firm issues an attestation report after performing an independent examination against the applicable AICPA Trust Services Criteria. The assessed system, relevant controls, testing procedures, and the auditor’s opinion are all described in the report.
Often under a confidentiality agreement, that document is what customers typically review. A SOC type 2 report, too, relates to a specific period in the past. 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. 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. Eligible contracts signed by December 31, 2026 are covered by the advertised offer. 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.
Dealing With a Report That Has Aged
Say your Type 2 report covers January through June, yet a customer requests assurance in October. The intervening months fall outside what the report examines. Relevant changes since the reporting period ended can be described in a management-issued bridge letter, which some customers may accept.
However, acceptance depends on the customer’s requirements, and a bridge letter does not replace an independent examination. Raise reporting gaps early instead of assuming an older report will satisfy procurement.
Compliance That Pays Off Beyond a Single Contract
Siege Cyber provides SOC 2 readiness support from Australian-based specialists, with fixed-price consulting packages and independent audit coordination. For growing software companies, the most useful approach is to connect compliance preparation with actual operational responsibilities.
Establish a reporting schedule that supports future customer reviews, assign control owners, and maintain security records. A successful SOC 2 project prepares your business for the next enterprise opportunity as well as answering the current request.
The next audit cycle is less of a scramble when the evidence you collect has been kept organized from the start. Controls are more likely to keep operating between audits when responsibilities and schedules are reviewed at regular intervals.