The technical evaluation is passed, pricing discussions are complete, and an enterprise customer is ready to proceed with your software product. 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. 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.
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.
Know Which SOC 2 Report the Buyer Is Asking For
SOC 2 reports don’t all provide the same level of assurance. Enterprise security requirements make the distinction between SOC 2 type 1 vs type 2 matter. Type 1 looks at whether relevant controls are suitably designed as of a particular date. Type 2 looks at the design of those controls and how effectively they operate over a defined period.
Some enterprise buyers accept Type 1 for a time, yet many ask specifically for Type 2 because it provides evidence covering actual operations. Before commissioning an examination, confirm the report type, required scope, and acceptable reporting dates with the customer.
Keep a written record of the answers, because the report type, scope, and dates all drive the plan and the budget. If the customer’s requirements are unclear, ask for the exact wording in the contract or the security questionnaire.
Build Your Timeline Around 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. That period may cover three months for an initial examination, while subsequent reports commonly examine longer periods.
Where your business needs to demonstrate access reviews, security training, or change approvals, those activities must happen, 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.
What a SOC 2 Examination Actually Delivers
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. In the report you’ll find a description of the assessed system, relevant controls, testing procedures, and the auditor’s opinion.
Customers typically review that document, often under a confidentiality agreement. A SOC type 2 report also relates to a specific historical period. It does not automatically provide assurance about every change made afterward.
What Will SOC 2 Preparation Cost?
SOC 2 preparation involves more than an independent examination fee. Businesses may need assistance developing policies, conducting risk assessments, preparing evidence, training employees, and arranging 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, 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?
Imagine a customer requesting assurance in October when your Type 2 report covers January through June. The intervening months fall outside what the report examines. A management-issued bridge letter describing relevant changes since the reporting period ended may be acceptable to some customers.
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.
Get More From Your Compliance Investment Than One Contract
With fixed-price consulting packages and independent audit coordination, Siege Cyber provides Australian-based SOC 2 readiness support. Growing software companies get the most from connecting 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 should leave your business better prepared for the next enterprise opportunity, not simply help it respond to the current request.
Keeping the evidence you collect organized from the start also makes the next audit cycle less of a scramble. Review responsibilities and schedules regularly so controls keep operating between audits.
