Your software product has passed the technical evaluation, pricing discussions are complete, and an enterprise customer is ready to proceed. Then procurement requests 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 way forward begins with understanding what the buyer expects and planning 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.
Work Out Which Kind of SOC 2 Report the Buyer Wants
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. Their design and operating effectiveness over a defined period are what Type 2 examines.
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. When it’s unclear what the customer requires, ask for the exact wording in the contract or the security questionnaire.
Work Out Your Timeline From the Observation Period
You can’t complete a SOC 2 type 2 examination simply by preparing documentation and scheduling an auditor. Relevant controls must be operated by the organization throughout the reporting period. For an initial examination, that period may cover three months, while subsequent reports commonly examine longer periods.
Access reviews, security training, or change approvals that your business needs to demonstrate 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.
Tell the customer early if the deadline is tighter than the observation period allows. Some customers are willing to discuss interim steps, such as a dated plan, when they hear about the gap early.
Be Clear on What You Are 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. 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 also covers a specific historical period. It doesn’t automatically give 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.
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. To be covered by the advertised offer, eligible contracts must be signed by December 31, 2026. Its package includes compliance preparation, training, a compliance platform, and external penetration testing.
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. Confirm current pricing, eligibility, and deliverables before committing.
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 report doesn’t look at the months in between. Relevant changes since the reporting period ended can be described in a management-issued bridge letter, which some customers may accept.
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 SOC 2 readiness support from Australian-based specialists, 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.
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.