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.
When Australian SaaS companies enter larger markets, this situation presents an immediate challenge. Security assurance takes time, and a rushed, 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.
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.
Confirm Which SOC 2 Report the Customer Needs
The level of assurance isn’t the same across every SOC 2 report. Knowing the distinction between SOC 2 type 1 vs type 2 matters when you respond to enterprise security requirements. Whether relevant controls are suitably designed at a particular date is what Type 1 evaluates. Type 2 looks at the design of those controls and how effectively they operate over a defined period.
Many enterprise buyers specifically request Type 2 because it provides evidence covering actual operations, though some may accept Type 1 temporarily. Check the report type, required scope, and acceptable reporting dates with the customer before you commission an examination.
The report type, scope, and dates drive both the plan and the budget, so write the answers down. When it’s unclear what the customer requires, ask for the exact wording in the contract or the security questionnaire.
The Observation Period Sets Your Timeline
Preparing documentation and scheduling an auditor isn’t enough to complete a SOC 2 type 2 examination. 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.
Access reviews, security training, or change approvals that your business needs to demonstrate must occur and be documented during the applicable window. By planning backward from a customer deadline, you can see whether the requested report can realistically be delivered on time.
Should the deadline be tighter than the observation period allows, let the customer know early.
Understand What the Examination Delivers
SOC 2 does not issue certificates, even though businesses frequently search for SOC 2 type 2 certification.
An independent examination against the applicable AICPA Trust Services Criteria is performed by a licensed CPA firm, which issues an attestation report. The assessed system, relevant controls, testing procedures, and the auditor’s opinion are all described in the report.
Often under a confidentiality agreement, that document is what customers typically review. A SOC type 2 report also relates to a specific historical period. Assurance about every change made afterward isn’t automatically included.
Understand the Costs Before You Begin
An independent examination fee is only part of the cost of SOC 2 preparation. Help may be needed to develop policies, conduct risk assessments, prepare evidence, train employees, and arrange security testing.
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. 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.
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 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. Some customers may be willing to accept a bridge letter, issued by management, that describes relevant changes since the reporting period ended.
A bridge letter does not replace an independent examination, and acceptance depends on the customer’s requirements. Rather than assuming an older report will satisfy procurement, discuss reporting gaps early.
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.
Keep the evidence you collect organized from the beginning, and the next audit cycle becomes less of a scramble.