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 have nothing to send.
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. The way forward begins with understanding what the buyer expects and planning 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.
Work Out Which Kind of SOC 2 Report the Buyer Wants
Not every SOC 2 report provides the same level of assurance. The distinction between SOC 2 type 1 vs type 2 matters when responding to enterprise security requirements. 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. 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. If the customer’s requirements are unclear, ask for the exact wording in the contract or the security questionnaire.
The Observation Period Sets Your Timeline
You can’t complete a SOC 2 type 2 examination simply by preparing documentation and scheduling an auditor. Throughout the reporting period, the organization must operate its relevant controls. That period may cover three months for an initial examination, 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. Planning backward from a customer deadline helps identify 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.
Understand What the Examination Delivers
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 assessed system, relevant controls, testing procedures, and the auditor’s opinion are all described in the report.
Often under a confidentiality agreement, that document is what customers typically review. A SOC type 2 report also relates to a specific historical period. Changes made afterward aren’t automatically covered by its assurance.
Understand the Costs Before You Begin
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.
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 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; 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 Happens When Your Report No Longer Covers Today?
Say your Type 2 report covers January through June, yet 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.
Still, whether it’s accepted depends on the customer’s requirements, and a bridge letter does not replace an independent examination. Don’t assume an older report will satisfy procurement; discuss reporting gaps early.
Make Your Compliance Work Harder Than a Single Deal
With fixed-price consulting packages and independent audit coordination, Siege Cyber provides Australian-based SOC 2 readiness support. Connecting compliance preparation with actual operational responsibilities is the most useful approach for growing software companies.
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. Review responsibilities and schedules regularly so controls keep operating between audits.