Your software product has passed the technical evaluation, pricing discussions are complete, and an enterprise customer is ready to proceed. Then procurement requests your latest SOC 2 report. You don’t have one.
When Australian SaaS companies enter larger markets, this situation presents an immediate challenge. Rushing into the wrong assessment may not satisfy the customer’s requirements, and security assurance takes time. 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. It’s worth asking before assuming, since the request sometimes leaves more room than it first appears.
Find Out Which SOC 2 Report the Customer Needs
The level of assurance isn’t the same across every SOC 2 report. The distinction between SOC 2 type 1 vs type 2 matters when responding to enterprise security requirements. 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.
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.
Put the answers in writing; the report type, scope, and dates all shape 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. The organization must operate its relevant controls throughout the reporting period. 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.
If the deadline is tighter than the observation period allows, tell the customer early. Some customers are willing to discuss interim steps, such as a dated plan, when they hear about the gap early.
Understand What the Examination Delivers
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 report covers the assessed system, relevant controls, testing procedures, and the auditor’s opinion.
It’s that document, often shared under a confidentiality agreement, that customers typically review. A SOC type 2 report also relates to a specific historical period. Assurance about every change made afterward isn’t automatically included.
Know the Costs Before Starting
More than an independent examination fee is involved in SOC 2 preparation. Help may be needed to develop policies, conduct risk assessments, prepare evidence, train employees, and arrange security testing.
For businesses with up to 50 employees, Siege Cyber advertises a SOC 2 compliance package 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. 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. Before committing, confirm current pricing, eligibility, and deliverables.
When Your Report Is Already Out of Date
Imagine a customer requesting assurance in October when your Type 2 report covers January through June. The report does not examine the intervening months. Relevant changes since the reporting period ended can be described in a management-issued bridge letter, which some customers may accept.
A bridge letter does not replace an independent examination, and acceptance depends on the customer’s requirements. Discuss reporting gaps early rather than assuming an older report will satisfy procurement.
Get More From Your Compliance Investment Than One Contract
Siege Cyber provides SOC 2 readiness support from Australian-based specialists, with fixed-price consulting packages and independent audit coordination. Growing software companies get the most from connecting compliance preparation with actual operational responsibilities.
Assign control owners, maintain security records, and establish a reporting schedule that supports future customer reviews. Rather than simply helping respond to the current request, a successful SOC 2 project should leave your business better prepared for the next enterprise opportunity.
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.