An enterprise customer is ready to proceed: your software product has passed the technical evaluation and pricing discussions are complete. Then procurement requests your latest SOC 2 report. You don’t have one.
For Australian SaaS companies entering larger markets, this situation creates an immediate challenge. 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.
A calm first step is to find out exactly what was asked for, and by when. The request can leave more room than it first appears to, so ask before you assume.
Know Which SOC 2 Report the Buyer Is Asking For
The level of assurance isn’t the same across every SOC 2 report. Enterprise security requirements make the distinction between SOC 2 type 1 vs type 2 matter. Type 1 evaluates whether relevant controls are suitably designed at a particular date. Over a defined period, Type 2 examines both their design and their operating effectiveness.
Type 1 may be accepted temporarily by an enterprise buyer, but many specifically request Type 2, since it provides evidence covering actual operations. Before commissioning an examination, confirm the report type, required scope, and acceptable reporting dates with the customer.
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.
Plan Your Timeline Around the Observation Period
A SOC 2 type 2 examination can’t be finished just by preparing documentation and booking an auditor. The relevant controls have to be in operation across the whole reporting period. For an initial examination, that period may cover three months, while subsequent reports commonly examine longer periods.
Where your business needs to demonstrate access reviews, security training, or change approvals, those activities must happen, 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.
Tell the customer early if the deadline is tighter than the observation period allows. Interim steps, such as a dated plan, are something some customers will discuss if 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 report describes the assessed system, relevant controls, testing procedures, and the auditor’s opinion.
It’s that document, often shared under a confidentiality agreement, that customers typically review. A SOC type 2 report also relates to a specific historical period. It doesn’t automatically give assurance about every change made afterward.
Get Clear on Costs Before Starting
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. The 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.
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. Some customers may accept a management-issued bridge letter describing relevant changes since the reporting period ended.
A bridge letter does not replace an independent examination, and acceptance depends on the customer’s requirements. Don’t assume an older report will satisfy procurement; discuss reporting gaps early.
Get More From Your Compliance Investment Than One Contract
Siege Cyber provides Australian-based SOC 2 readiness support with fixed-price consulting packages and independent audit coordination. Growing software companies get the most from connecting 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. Review responsibilities and schedules regularly so controls keep operating between audits.