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. You have nothing to send.
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. 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. Sometimes the request leaves more room than it first appears, so it’s worth asking before assuming.
Which SOC 2 Report Does the Customer Need?
SOC 2 reports don’t all provide the same level 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 examines their design and operating effectiveness over a defined period.
Type 1 may be accepted temporarily by an enterprise buyer, but many specifically request Type 2, since it provides evidence covering actual operations. Confirm the report type, required scope, and acceptable reporting dates with the customer before commissioning an examination.
Keep a written record of the answers, because the report type, scope, and dates all drive the plan and the budget. 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
You can’t complete a SOC 2 type 2 examination simply by preparing documentation and scheduling an auditor. Relevant controls must be operated by the organization throughout the reporting period. That period may cover three months for an initial examination, while subsequent reports commonly examine longer periods.
If your business needs to demonstrate access reviews, security training, or change approvals, those activities 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. A dated plan is one interim step that some customers are willing to discuss when they hear about the gap early.
Be Clear on What You Are Buying
Businesses frequently search for SOC 2 type 2 certification, although SOC 2 does not issue certificates.
An independent examination against the applicable AICPA Trust Services Criteria is performed by a licensed CPA firm, which issues an attestation report. The report covers the assessed system, relevant controls, testing procedures, and the auditor’s opinion.
Customers typically review that document, often under a confidentiality agreement. A specific historical period is also what a SOC type 2 report relates to. It doesn’t automatically give assurance about every change made afterward.
Costs to Know About Before You Begin
An independent examination fee is only part of the cost of SOC 2 preparation. Assistance with developing policies, conducting risk assessments, preparing evidence, training employees, and arranging security testing may be needed.
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. The advertised offer applies to eligible contracts signed by December 31, 2026. 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.
What to Do When Your SOC 2 Report Has Aged
Imagine a customer requesting assurance in October when your Type 2 report covers January through June. The report does not examine the intervening months. A management-issued bridge letter describing relevant changes since the reporting period ended may be acceptable to some customers.
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. Leaving your business better prepared for the next enterprise opportunity, not just answering the current request, is what a successful SOC 2 project should do.
Keeping the evidence you collect organized from the start also makes the next audit cycle less of a scramble.