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. There’s no report to hand over.
For Australian SaaS companies entering larger markets, this situation creates an immediate challenge. Because security assurance takes time, 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.
First, find out exactly what was asked for, and by when, without rushing. The request can leave more room than it first appears to, so ask before you assume.
Find Out Which SOC 2 Report the Customer Needs
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. At a particular date, Type 1 evaluates whether relevant controls are suitably designed. Type 2 looks at the design of those controls and how effectively they operate over a defined period.
Many enterprise buyers specifically request Type 2 because it provides evidence covering actual operations, though some may accept Type 1 temporarily. Confirm the report type, required scope, and acceptable reporting dates with the customer before commissioning an examination.
Write the answers down, since the report type, scope, and dates all drive the plan and the budget. When it’s unclear what the customer requires, ask for the exact wording in the contract or the security questionnaire.
Why the Observation Period Shapes Your Timeline
Preparing documentation and scheduling an auditor isn’t enough to complete a SOC 2 type 2 examination. 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.
Where your business needs to demonstrate access reviews, security training, or change approvals, those activities must happen, 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.
Should the deadline be tighter than the observation period allows, let the customer know early. 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 performs an independent examination against the applicable AICPA Trust Services Criteria and issues an attestation report. In the report you’ll find a description of 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 does not automatically provide assurance about every change made afterward.
What Will SOC 2 Preparation Cost?
SOC 2 preparation involves more than an independent examination fee. Businesses may need assistance developing policies, conducting risk assessments, preparing evidence, training employees, and arranging security testing.
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 that are signed by December 31, 2026. Its package includes compliance preparation, training, a compliance platform, and external penetration testing.
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 If Your Report Is Already Outdated?
Your Type 2 report might cover January through June, and then a customer requests assurance in October. The months in between aren’t examined by the report. Some customers may be willing to accept a bridge letter, issued by management, that describes relevant changes since the reporting period ended.
Acceptance depends on the customer’s requirements, however, and a bridge letter does not replace an independent examination. Rather than assuming an older report will satisfy procurement, discuss reporting gaps early.
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. Connecting compliance preparation with actual operational responsibilities is the most useful approach for growing software companies.
Establish a reporting schedule that supports future customer reviews, assign control owners, and maintain security records. A successful SOC 2 project should leave your business better prepared for the next enterprise opportunity, not simply help it respond to the current request.
Organized evidence from the start makes the next audit cycle less of a scramble. Review responsibilities and schedules regularly so controls keep operating between audits.