An enterprise customer is ready to proceed: your software product has passed the technical evaluation and pricing discussions are complete. Then procurement requests your latest SOC 2 report. You don’t have one.
For Australian SaaS companies entering larger markets, this situation creates an immediate challenge. Because security assurance takes time, rushing into the wrong assessment may not satisfy the customer’s requirements. The solution begins with understanding what the buyer expects and planning 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.
Work Out Which Kind of SOC 2 Report the Buyer Wants
The level of assurance isn’t the same across every SOC 2 report. The distinction between SOC 2 type 1 vs type 2 matters when responding to enterprise security requirements. 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.
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.
The report type, scope, and dates drive both the plan and the budget, so write the answers down.
The Observation Period Sets Your Timeline
You can’t complete a SOC 2 type 2 examination simply by preparing documentation and scheduling an auditor. The relevant controls have to be in operation across the whole reporting period. Subsequent reports commonly examine longer periods, but for an initial examination the period may cover three months.
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. A dated plan is one interim step that some customers are willing to discuss when they hear about the gap early.
What a SOC 2 Examination Actually Delivers
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 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.
Know the Costs Before Starting
An independent examination fee is only part of the cost of SOC 2 preparation. 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 priced at AUD $2,750 per month, excluding GST, over twelve months for businesses with up to 50 employees. To be covered by the advertised offer, eligible contracts must be signed by December 31, 2026. Compliance preparation, training, a compliance platform, and external penetration testing are included in its package.
Billed separately is the independent CPA examination, with Siege Cyber indicating 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 If Your Report Is Already Outdated?
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. 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. Don’t assume an older report will satisfy procurement; discuss reporting gaps early.
Build Compliance That Outlasts One Contract
With fixed-price consulting packages and independent audit coordination, Siege Cyber provides Australian-based SOC 2 readiness support. The most useful approach for growing software companies is to connect compliance preparation with actual operational responsibilities.
Give each control an owner, keep security records, and set a reporting schedule that supports future customer reviews. A successful SOC 2 project prepares your business for the next enterprise opportunity as well as answering the current request.
Keep the evidence you collect organized from the beginning, and the next audit cycle becomes less of a scramble. Review responsibilities and schedules regularly so controls keep operating between audits.