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. Nothing like that exists yet.
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 solution begins with understanding what the buyer expects and planning backward from the deadline.
First, find out exactly what was asked for, and by when, without rushing. It’s worth asking before assuming, since the request sometimes leaves more room than it first appears.
Work Out Which Kind of SOC 2 Report the Buyer Wants
Not every SOC 2 report provides the same level of assurance. When responding to enterprise security requirements, the distinction between SOC 2 type 1 vs type 2 matters. Whether relevant controls are suitably designed at a particular date is what Type 1 evaluates. Type 2 looks at the design of those controls and how effectively they operate over a defined period.
An enterprise buyer may accept Type 1 temporarily, but many specifically request Type 2 because 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. 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
A SOC 2 type 2 examination cannot be completed simply by preparing documentation and scheduling an auditor. The organization must operate its relevant controls 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. By planning backward from a customer deadline, you can see whether the requested report can realistically be delivered on time.
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.
Be Clear on What You Are Buying
Businesses frequently search for SOC 2 type 2 certification, although SOC 2 does not issue certificates.
What you get is an attestation report from a licensed CPA firm that performs an independent examination against the applicable AICPA Trust Services Criteria. The assessed system, relevant controls, testing procedures, and the auditor’s opinion are all described in the report.
Customers typically review that document, often under a confidentiality agreement. A SOC type 2 report also relates to a specific historical period. Changes made afterward aren’t automatically covered by its assurance.
Costs to Know About Before You Begin
SOC 2 preparation costs more than just an independent examination fee. 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. The advertised offer applies to eligible contracts that are signed by December 31, 2026. Included in its package are 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.
What Happens When Your Report No Longer Covers Today?
Suppose your Type 2 report covers January through June, but a customer requests assurance in October. The report does not examine the intervening months. Some customers may be willing to accept a bridge letter, issued by management, that describes 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.
Make Your Compliance Investment Work Beyond One 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.
Establish a reporting schedule that supports future customer reviews, assign control owners, and maintain security records. A successful SOC 2 project prepares your business for the next enterprise opportunity as well as answering the current request.
Organized evidence from the start makes the next audit cycle less of a scramble.