Your software product has passed the technical evaluation, pricing is settled, and an enterprise customer is ready to go ahead. Then procurement asks for your latest SOC 2 report. You don’t have one.
This situation creates an immediate challenge for Australian SaaS companies entering larger markets. Rushing into the wrong assessment may not satisfy the customer’s requirements, and security assurance takes time. Start by understanding what the buyer expects, then plan backward from the deadline.
First, find out exactly what was asked for, and by when, without rushing. Ask before assuming: a request sometimes leaves more room than it first seems to.
Know Which SOC 2 Report the Buyer Is Asking For
Different SOC 2 reports provide different levels of assurance. When responding to enterprise security requirements, the distinction between SOC 2 type 1 vs type 2 matters. Type 1 evaluates whether relevant controls are suitably designed at a particular date. Their design and operating effectiveness over a defined period are what Type 2 examines.
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.
Keep a written record of the answers, because 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.
Let the Observation Period Drive Your Timeline
A SOC 2 type 2 examination cannot be completed simply by preparing documentation and scheduling an auditor. The relevant controls have to be in operation across the whole reporting period. An initial examination may cover a period of three months, whereas subsequent reports commonly cover longer ones.
Those activities must occur and be documented during the applicable window if your business needs to demonstrate access reviews, security training, or change approvals. By planning backward from a customer deadline, you can see whether the requested report can realistically be delivered on time.
Tell the customer early if the deadline is tighter than the observation period allows. Some customers are willing to discuss interim steps, such as a dated plan, when 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 issues an attestation report after performing 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.
That document is what customers typically review, often under a confidentiality agreement. A specific historical period is also what a SOC type 2 report relates to. It doesn’t automatically give assurance about every change made afterward.
Costs to Know About Before You Begin
SOC 2 preparation costs more than just an independent examination fee. Developing policies, conducting risk assessments, preparing evidence, training employees, and arranging security testing are all areas where businesses may need assistance.
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. 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; 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?
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. Some customers may accept a management-issued bridge letter describing relevant changes since the reporting period ended.
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.
Compliance That Pays Off Beyond a Single Contract
Siege Cyber provides Australian-based SOC 2 readiness support 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.
Keep the evidence you collect organized from the beginning, and the next audit cycle becomes less of a scramble. Controls are more likely to keep operating between audits when responsibilities and schedules are reviewed at regular intervals.