The technical evaluation is passed, pricing discussions are complete, and an enterprise customer is ready to proceed with your software product. Procurement then requests your latest SOC 2 report. You don’t have one.
When Australian SaaS companies enter larger markets, this situation presents an immediate challenge. Security assurance takes time, and rushing into the wrong assessment may not satisfy the customer’s requirements. The way forward begins with understanding what the buyer expects and planning backward from the deadline.
The calm first step is to establish exactly what was asked for and the date it’s needed. The request can leave more room than it first appears to, so ask before you assume.
Which SOC 2 Report Does the Customer Need?
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.
Some enterprise buyers accept Type 1 for a time, yet many ask specifically for Type 2 because it provides evidence covering actual operations. 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. When it’s unclear what the customer requires, ask for the exact wording in the contract or the security questionnaire.
Let the Observation Period Drive Your Timeline
A SOC 2 type 2 examination cannot be completed simply by preparing documentation and scheduling an auditor. Relevant controls must be operated by the organization throughout the reporting period. An initial examination may cover a period of three months, whereas subsequent reports commonly cover longer ones.
Access reviews, security training, or change approvals that your business needs to demonstrate must occur 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.
When the deadline can’t be met within the observation period, say so to the customer early.
Understand What You Are Actually Buying
Many businesses search for SOC 2 type 2 certification, yet 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.
That document is what customers typically review, often under a confidentiality agreement. A SOC type 2 report, too, relates to a specific period in the past. It doesn’t automatically give assurance about every change made afterward.
What Will SOC 2 Preparation Cost?
An independent examination fee is only part of the cost of SOC 2 preparation. 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 priced at AUD $2,750 per month, excluding GST, over twelve months for businesses with up to 50 employees. The advertised offer applies to eligible contracts that are signed by December 31, 2026. The 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. Make sure you confirm current pricing, eligibility, and deliverables before committing.
Dealing With a Report That Has Aged
Say your Type 2 report covers January through June, yet 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. Raise reporting gaps early instead of assuming an older report will satisfy procurement.
Make Compliance Count Beyond the Next Contract
Australian-based SOC 2 readiness support, with fixed-price consulting packages and independent audit coordination, is provided by Siege Cyber. 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.
Organized evidence from the start makes the next audit cycle less of a scramble.