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 don’t have one.
For Australian SaaS companies entering larger markets, this situation creates an immediate challenge. 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.
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.
Start by Learning Which SOC 2 Report Is Required
The level of assurance isn’t the same across every SOC 2 report. When responding to enterprise security requirements, the distinction between SOC 2 type 1 vs type 2 matters. 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.
Some enterprise buyers accept Type 1 for a time, yet many ask specifically for Type 2 because 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. Should the customer’s requirements be unclear, ask to see the exact wording in the contract or the security questionnaire.
Why the Observation Period Shapes Your Timeline
Preparing documentation and scheduling an auditor isn’t enough to complete a SOC 2 type 2 examination. The relevant controls have to be in operation across the whole 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.
When the deadline can’t be met within the observation period, say so to the customer early. Interim steps, such as a dated plan, are something some customers will discuss if they hear about the gap early.
Understand What You Are Actually Buying
Businesses frequently search for SOC 2 type 2 certification, although SOC 2 does not issue certificates.
A licensed CPA firm performs an independent examination against the applicable AICPA Trust Services Criteria and issues an attestation report. The report covers the assessed system, relevant controls, testing procedures, and the auditor’s opinion.
It’s that document, often shared under a confidentiality agreement, that customers typically review. A SOC type 2 report also covers a specific historical period. It does not automatically provide assurance about every change made afterward.
Get Clear on Costs Before Starting
More than an independent examination fee is involved in SOC 2 preparation. Assistance with developing policies, conducting risk assessments, preparing evidence, training employees, and arranging security testing may be needed.
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. To be covered by the advertised offer, eligible contracts must be signed by December 31, 2026. Included in its package are compliance preparation, training, a compliance platform, and external penetration testing.
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. Check current pricing, eligibility, and deliverables before you commit.
What Happens When Your Report No Longer Covers Today?
Say your Type 2 report covers January through June, yet a customer requests assurance in October. The months in between aren’t examined by the report. 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. Discuss reporting gaps early rather than assuming an older report will satisfy procurement.
Make Your Compliance Investment Work Beyond One Contract
Australian-based SOC 2 readiness support, with fixed-price consulting packages and independent audit coordination, is provided by Siege Cyber. Connecting compliance preparation with actual operational responsibilities is the most useful approach for growing software companies.
Assign control owners, maintain security records, and establish a reporting schedule that supports future customer reviews. 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. Controls are more likely to keep operating between audits when responsibilities and schedules are reviewed at regular intervals.
