Your software product has passed the technical evaluation, pricing is settled, and an enterprise customer is ready to go ahead. Procurement then requests your latest SOC 2 report. You don’t have one.
For Australian SaaS companies entering larger markets, this situation creates an immediate challenge. 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.
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.
Work Out Which Kind of SOC 2 Report the Buyer Wants
Not every SOC 2 report provides the same level of assurance. Knowing the distinction between SOC 2 type 1 vs type 2 matters when you respond to enterprise security requirements. Whether relevant controls are suitably designed at a particular date is what Type 1 evaluates. Over a defined period, Type 2 examines both their design and their operating effectiveness.
An enterprise buyer may accept Type 1 temporarily, but many specifically request Type 2 because 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.
Why the Observation Period Shapes 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. 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. Planning backward from a customer deadline helps identify whether the requested report can realistically be delivered on time.
If the deadline is tighter than the observation period allows, tell the customer early. Interim steps, such as a dated plan, are something some customers will discuss if they hear about the gap early.
Understand What You Are Actually Buying
Although SOC 2 does not issue certificates, businesses frequently search for SOC 2 type 2 certification.
A licensed CPA firm performs an independent examination against the applicable AICPA Trust Services Criteria and 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 relates to a specific historical period. It does not automatically provide 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. 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 priced at AUD $2,750 per month, excluding GST, over twelve months 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, with Siege Cyber indicating 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
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. Relevant changes since the reporting period ended can be described in a management-issued bridge letter, which some customers may accept.
Acceptance depends on the customer’s requirements, however, and a bridge letter does not replace an independent examination. Don’t assume an older report will satisfy procurement; discuss reporting gaps early.
Build Compliance That Outlasts One 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.
Give each control an owner, keep security records, and set a reporting schedule that supports future customer reviews. A successful SOC 2 project prepares your business for the next enterprise opportunity as well as answering the current request.
The next audit cycle is less of a scramble when the evidence you collect has been kept organized from the start.