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. You have nothing to send.
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. The request can leave more room than it first appears to, so ask before you assume.
Start by Learning Which SOC 2 Report Is Required
Different SOC 2 reports provide different levels of assurance. Enterprise security requirements make the distinction between SOC 2 type 1 vs type 2 matter. At a particular date, Type 1 evaluates whether relevant controls are suitably designed. Type 2 examines their design and operating effectiveness 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. Check the report type, required scope, and acceptable reporting dates with the customer before you commission an examination.
Put the answers in writing; the report type, scope, and dates all shape the plan and the budget. If the customer’s requirements are unclear, ask for the exact wording in the contract or the security questionnaire.
Why the Observation Period Shapes Your Timeline
You can’t complete a SOC 2 type 2 examination simply by preparing documentation and scheduling an auditor. The organization must operate its relevant controls throughout the reporting period. For an initial examination, that period may cover three months, 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. 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. Some customers are willing to discuss interim steps, such as a dated plan, when they hear about the gap early.
Know What You’re Actually Buying
Many businesses search for SOC 2 type 2 certification, yet SOC 2 does not issue certificates.
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.
Customers typically review that document, often under a confidentiality agreement. 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
SOC 2 preparation costs more than just an independent examination fee. Help may be needed to develop policies, conduct risk assessments, prepare evidence, train employees, and arrange security testing.
Siege Cyber advertises a SOC 2 compliance package priced at AUD $2,750 per month, excluding GST, over twelve months for businesses with up to 50 employees. The advertised offer applies to eligible contracts that are 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. Check current pricing, eligibility, and deliverables before you commit.
What to Do When Your SOC 2 Report Has Aged
Imagine a customer requesting assurance in October when your Type 2 report covers January through June. The report does not examine the intervening months. 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. Raise reporting gaps early instead of assuming an older report will satisfy procurement.
Compliance That Pays Off Beyond a Single Contract
Siege Cyber provides SOC 2 readiness support from Australian-based specialists, with fixed-price consulting packages and independent audit coordination. For growing software companies, the most useful approach is to connect compliance preparation with actual operational responsibilities.
Establish a reporting schedule that supports future customer reviews, assign control owners, and maintain security records. Leaving your business better prepared for the next enterprise opportunity, not just answering the current request, is what a successful SOC 2 project should do.
Organized evidence from the start makes the next audit cycle less of a scramble. Controls are more likely to keep operating between audits when responsibilities and schedules are reviewed at regular intervals.