The technical evaluation is passed, pricing discussions are complete, and an enterprise customer is ready to proceed with your software product. Then procurement asks for your latest SOC 2 report. You don’t have one.
For Australian SaaS companies entering larger markets, this situation creates an immediate challenge. Because security assurance takes time, 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. 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
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. At a particular date, Type 1 evaluates whether relevant controls are suitably designed. 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. Prior to commissioning an examination, confirm with the customer the report type, the required scope, and acceptable reporting dates.
Write the answers down, since 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.
Work Out Your Timeline From the Observation Period
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. An initial examination may cover a period of three months, whereas subsequent reports commonly cover longer ones.
Where your business needs to demonstrate access reviews, security training, or change approvals, those activities must happen, and be documented, during the applicable window. Whether the requested report can realistically be delivered on time becomes clearer when you plan backward from a customer deadline.
Should the deadline be tighter than the observation period allows, let the customer know early. Interim steps, such as a dated plan, are something some customers will discuss if they hear about the gap early.
What Exactly Are You Paying For?
Businesses frequently search for SOC 2 type 2 certification, although SOC 2 does not issue certificates.
A licensed CPA firm issues an attestation report after performing an independent examination against the applicable AICPA Trust Services Criteria. 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. Assurance about every change made afterward isn’t automatically included.
Count the Costs Before You Start
SOC 2 preparation involves more than an independent examination fee. Help may be needed to develop policies, conduct risk assessments, prepare evidence, train employees, and arrange 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. To be covered by the advertised offer, eligible contracts must be signed by December 31, 2026. 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. Check current pricing, eligibility, and deliverables before you commit.
What if Your Existing Report Is Out of Date?
Imagine a customer requesting assurance in October when your Type 2 report covers January through June. The intervening months fall outside what the report examines. Some customers may accept a management-issued bridge letter describing relevant changes since the reporting period ended.
Acceptance depends on the customer’s requirements, however, and a bridge letter does not replace an independent examination. Raise reporting gaps early instead of assuming an older report will satisfy procurement.
Compliance That Pays Off Beyond a Single Contract
Siege Cyber provides SOC 2 readiness support from Australian-based specialists, with fixed-price consulting packages and independent audit coordination. 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. A successful SOC 2 project prepares your business for the next enterprise opportunity as well as answering the current request.
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.