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. There’s no report to hand over.
Australian SaaS companies entering larger markets face an immediate challenge in this situation. Rushing into the wrong assessment may not satisfy the customer’s requirements, and security assurance takes time. Understanding what the buyer expects, and planning backward from the deadline, is where the solution begins.
First, find out exactly what was asked for, and by when, without rushing. 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. 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.
An enterprise buyer may accept Type 1 temporarily, but many specifically request 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.
The Observation Period Sets Your Timeline
Preparing documentation and scheduling an auditor isn’t enough to complete a SOC 2 type 2 examination. The relevant controls have to be in operation across the whole reporting period. That period may cover three months for an initial examination, 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. By planning backward from a customer deadline, you can see whether the requested report can realistically be delivered on time.
If the deadline is tighter than the observation period allows, tell the customer early. Hearing about the gap early, some customers are willing to discuss interim steps such as a dated plan.
Understand What You Are Actually Buying
Businesses frequently search for SOC 2 type 2 certification, although SOC 2 does not issue certificates.
What you get is an attestation report from a licensed CPA firm that performs 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.
Customers typically review that document, often under a confidentiality agreement. A SOC type 2 report also covers a specific historical period. Assurance about every change made afterward isn’t automatically included.
Costs to Know About Before You Begin
SOC 2 preparation costs more than just an independent examination fee. Developing policies, conducting risk assessments, preparing evidence, training employees, and arranging security testing are all areas where businesses may need assistance.
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. To be covered by the advertised offer, eligible contracts must be 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. Confirm current pricing, eligibility, and deliverables before committing.
What If Your Report Is Already Outdated?
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. A management-issued bridge letter describing relevant changes since the reporting period ended may be acceptable to some customers.
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.
Make Your Compliance Work Harder Than a Single Deal
Siege Cyber provides SOC 2 readiness support from Australian-based specialists, with fixed-price consulting packages and independent audit coordination. The most useful approach for growing software companies 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. Regular reviews of responsibilities and schedules help controls keep operating between audits.