Your software product has passed the technical evaluation, pricing discussions are complete, and an enterprise customer is ready to proceed. Procurement then requests your latest SOC 2 report. You don’t have one.
This situation creates an immediate challenge for Australian SaaS companies entering larger markets. Security assurance takes time, and a rushed, wrong assessment may not satisfy the customer’s requirements. 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. Sometimes the request leaves more room than it first appears, so it’s worth asking before assuming.
Confirm Which SOC 2 Report the Customer Needs
The level of assurance isn’t the same across every SOC 2 report. Knowing the distinction between SOC 2 type 1 vs type 2 matters when you respond to enterprise security requirements. At a particular date, Type 1 evaluates whether relevant controls are suitably designed. Their design and operating effectiveness over a defined period are what Type 2 examines.
Many enterprise buyers specifically request Type 2 because it provides evidence covering actual operations, though some may accept Type 1 temporarily. Check the report type, required scope, and acceptable reporting dates with the customer before you commission an examination.
Put the answers in writing; the report type, scope, and dates all shape the plan and the budget. Should the customer’s requirements be unclear, ask to see the exact wording in the contract or the security questionnaire.
Why the Observation Period Shapes Your Timeline
A SOC 2 type 2 examination can’t be finished just by preparing documentation and booking an auditor. Throughout the reporting period, the organization must operate its relevant controls. Subsequent reports commonly examine longer periods, but for an initial examination the period may cover three months.
If your business needs to demonstrate access reviews, security training, or change approvals, those activities 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.
If the deadline is tighter than the observation period allows, tell the customer 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 issues an attestation report after performing an independent examination against the applicable AICPA Trust Services Criteria. The report describes the assessed system, relevant controls, testing procedures, and the auditor’s opinion.
Customers typically review that document, often under a confidentiality agreement. A SOC type 2 report also relates to a specific historical period. Changes made afterward aren’t automatically covered by its assurance.
Costs to Know About Before You Begin
SOC 2 preparation costs more than just an independent examination fee. Help may be needed to develop policies, conduct risk assessments, prepare evidence, train employees, and arrange 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. Eligible contracts signed by December 31, 2026 are covered by the advertised offer. Compliance preparation, training, a compliance platform, and external penetration testing are included in its package.
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. 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.
Still, whether it’s accepted depends on the customer’s requirements, and a bridge letter does not replace an independent examination. Don’t assume an older report will satisfy procurement; discuss reporting gaps early.
Get More From Your Compliance Investment Than One Contract
Australian-based SOC 2 readiness support, with fixed-price consulting packages and independent audit coordination, is provided by Siege Cyber. For growing software companies, the most useful approach is to connect compliance preparation with actual operational responsibilities.
Give each control an owner, keep security records, and set a reporting schedule that supports future customer reviews. Rather than simply helping respond to the current request, a successful SOC 2 project should leave your business better prepared for the next enterprise opportunity.
Organized evidence from the start makes the next audit cycle less of a scramble. Reviewing responsibilities and schedules at regular intervals helps controls keep operating between audits.