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. Nothing like that exists yet.
When Australian SaaS companies enter larger markets, this situation presents an immediate challenge. Security assurance takes time, and a rushed, wrong assessment may not satisfy the customer’s requirements. The solution begins with understanding what the buyer expects and planning backward from the deadline.
Begin calmly by finding out exactly what was asked for and by when. Ask before assuming: a request sometimes leaves more room than it first seems to.
Work Out Which Kind of SOC 2 Report the Buyer Wants
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. 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. Should the customer’s requirements be unclear, ask to see the exact wording in the contract or the security questionnaire.
The Observation Period Sets Your Timeline
Preparing documentation and scheduling an auditor isn’t enough to complete a SOC 2 type 2 examination. Throughout the reporting period, the organization must operate its relevant controls. For an initial examination, that period may cover three months, while subsequent reports commonly examine longer periods.
Where your business needs to demonstrate access reviews, security training, or change approvals, those activities must happen, 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.
When the deadline can’t be met within the observation period, say so to the customer early. Some customers are willing to discuss interim steps, such as a dated plan, 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.
That document is what customers typically review, often under a confidentiality agreement. A SOC type 2 report also covers a specific historical period. Changes made afterward aren’t automatically covered by its assurance.
Costs to Know About Before You Begin
An independent examination fee is only part of the cost of SOC 2 preparation. Businesses may need assistance developing policies, conducting risk assessments, preparing evidence, training employees, and arranging security testing.
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. Eligible contracts signed by December 31, 2026 are covered by the advertised offer. The 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. Make sure you confirm current pricing, eligibility, and deliverables before committing.
What to Do When Your SOC 2 Report Has Aged
Your Type 2 report might cover January through June, and then a customer requests assurance in October. The intervening months fall outside what the report examines. Some customers may be willing to accept a bridge letter, issued by management, that describes 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. Rather than assuming an older report will satisfy procurement, discuss reporting gaps early.
Make Your Compliance Work Harder Than a Single Deal
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.
Control owners should be assigned, security records maintained, and a reporting schedule established to support 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. Regular reviews of responsibilities and schedules help controls keep operating between audits.