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 don’t have one.
This situation creates an immediate challenge for Australian SaaS companies entering larger markets. Security assurance takes time, and rushing into the wrong assessment may not satisfy the customer’s requirements. The way forward begins with understanding what the buyer expects and planning backward from the deadline.
The calm first step is to establish exactly what was asked for and the date it’s needed. 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?
The level of assurance isn’t the same across every SOC 2 report. Enterprise security requirements make the distinction between SOC 2 type 1 vs type 2 matter. Whether relevant controls are suitably designed at a particular date is what Type 1 evaluates. Over a defined period, Type 2 examines both their design and their operating effectiveness.
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.
Keep a written record of the answers, because the report type, scope, and dates all drive 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.
Let the Observation Period Drive Your Timeline
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. Subsequent reports commonly examine longer periods, but for an initial examination the period may cover three months.
Access reviews, security training, or change approvals that your business needs to demonstrate must occur and be documented during the applicable window. Work backward from the customer deadline to find out 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.
Be Clear on What You Are Buying
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 assessed system, relevant controls, testing procedures, and the auditor’s opinion are all described in the report.
Customers typically review that document, often under a confidentiality agreement. 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.
Costs to Know About Before You Begin
SOC 2 preparation costs more than just an independent examination fee. Businesses may need assistance developing policies, conducting risk assessments, preparing evidence, training employees, and arranging security testing.
Siege Cyber advertises a SOC 2 compliance package for businesses with up to 50 employees, priced at AUD $2,750 per month, excluding GST, over twelve months. The advertised offer applies to eligible contracts that are signed by December 31, 2026. The 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. Confirm current pricing, eligibility, and deliverables before committing.
What If Your Report Is Already Outdated?
Your Type 2 report might cover January through June, and then a customer requests assurance in October. The report doesn’t look at the months in between. Some customers may accept a management-issued bridge letter describing relevant changes since the reporting period ended.
Still, whether it’s accepted depends on the customer’s requirements, and a bridge letter does not replace an independent examination. Rather than assuming an older report will satisfy procurement, discuss reporting gaps early.
Get More From Your Compliance Investment Than One Contract
Siege Cyber provides Australian-based SOC 2 readiness support with fixed-price consulting packages and independent audit coordination. 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 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. Reviewing responsibilities and schedules at regular intervals helps controls keep operating between audits.