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. There’s no report to hand over.
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.
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.
Which SOC 2 Report Does the Customer Need?
SOC 2 reports don’t all provide the same level of assurance. When responding to enterprise security requirements, the distinction between SOC 2 type 1 vs type 2 matters. 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.
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.
Let the Observation Period Drive Your Timeline
A SOC 2 type 2 examination cannot be completed simply by preparing documentation and scheduling 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.
If your business needs to demonstrate access reviews, security training, or change approvals, those activities must occur 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.
What Exactly Are You Paying For?
Many businesses search for SOC 2 type 2 certification, yet 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. 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 specific historical period is also what a SOC type 2 report relates to. Changes made afterward aren’t automatically covered by its assurance.
What Will SOC 2 Preparation Cost?
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.
A SOC 2 compliance package priced at AUD $2,750 per month, excluding GST, over twelve months is advertised by Siege Cyber for businesses with up to 50 employees. Eligible contracts signed by December 31, 2026 are covered by the advertised offer. Its package includes compliance preparation, training, a compliance platform, and external penetration testing.
The independent CPA examination is billed separately; Siege Cyber indicates typical fees of approximately AUD 5,000–15,000, depending on scope and complexity. Confirm current pricing, eligibility, and deliverables before committing.
Dealing With a Report That Has Aged
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. Relevant changes since the reporting period ended can be described in a management-issued bridge letter, which some customers may accept.
However, acceptance depends on the customer’s requirements, and a bridge letter does not replace an independent examination. Discuss reporting gaps early rather than assuming an older report will satisfy procurement.
Make Your Compliance Investment Work Beyond One Contract
Siege Cyber provides Australian-based SOC 2 readiness support with fixed-price consulting packages and independent audit coordination. The most useful approach for growing software companies is to connect compliance preparation with actual operational responsibilities.
Establish a reporting schedule that supports future customer reviews, assign control owners, and maintain security records. 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.
Keep the evidence you collect organized from the beginning, and the next audit cycle becomes less of a scramble. Review responsibilities and schedules regularly so controls keep operating between audits.