The technical evaluation is passed, pricing discussions are complete, and an enterprise customer is ready to proceed with your software product. That’s when procurement requests your latest SOC 2 report. Nothing like that exists yet.
For Australian SaaS companies entering larger markets, this situation creates an immediate challenge. Security assurance takes time, and a rushed, wrong assessment may not satisfy the customer’s requirements. Understanding what the buyer expects, and planning backward from the deadline, is where the solution begins.
Begin calmly by finding out exactly what was asked for and by when. It’s worth asking before assuming, since the request sometimes leaves more room than it first appears.
Which SOC 2 Report Does the Customer Need?
SOC 2 reports don’t all provide the same level of assurance. The distinction between SOC 2 type 1 vs type 2 matters when responding to enterprise security requirements. 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.
Many enterprise buyers specifically request Type 2 because it provides evidence covering actual operations, though some may accept Type 1 temporarily. Before commissioning an examination, confirm the report type, required scope, and acceptable reporting dates with the customer.
Put the answers in writing; the report type, scope, and dates all shape the plan and the budget. When it’s unclear what the customer requires, ask for the exact wording in the contract or the security questionnaire.
Work Out Your Timeline From the Observation Period
A SOC 2 type 2 examination cannot be completed simply by preparing documentation and scheduling an auditor. Throughout the reporting period, the organization must operate its relevant controls. For an initial examination, that period may cover three months, while subsequent reports commonly examine longer periods.
Those activities must occur and be documented during the applicable window if your business needs to demonstrate access reviews, security training, or change approvals. Work backward from the customer deadline to find out whether the requested report can realistically be delivered on time.
Tell the customer early if the deadline is tighter than the observation period allows.
Be Clear on What You Are Buying
SOC 2 does not issue certificates, even though 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 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, too, relates to a specific period in the past. It doesn’t automatically give assurance about every change made afterward.
What Will SOC 2 Preparation Cost?
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. The advertised offer applies to eligible contracts signed by December 31, 2026. Compliance preparation, training, a compliance platform, and external penetration testing are included in its package.
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.
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.
However, acceptance depends on the customer’s requirements, 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 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.
Control owners should be assigned, security records maintained, and a reporting schedule established to support 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.