An enterprise customer is ready to proceed: your software product has passed the technical evaluation and pricing discussions are complete. Procurement then requests your latest SOC 2 report. You don’t have one.

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. 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. Sometimes the request leaves more room than it first appears, so it’s worth asking before assuming.

Work Out Which Kind of SOC 2 Report the Buyer Wants

Not every SOC 2 report provides the same level of assurance. 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 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. Prior to commissioning an examination, confirm with the customer the report type, the required scope, and acceptable reporting dates.

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.

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. That period may cover three months for an initial examination, while subsequent reports commonly examine longer periods.

Those activities must occur and be documented during the applicable window if your business needs to demonstrate access reviews, security training, or change approvals. Whether the requested report can realistically be delivered on time becomes clearer when you plan backward from a customer deadline.

If the deadline is tighter than the observation period allows, tell the customer early. Some customers are willing to discuss interim steps, such as a dated plan, when they hear about the gap early.

What Exactly Are You Paying For?

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.

That document is what customers typically review, often under a confidentiality agreement. A SOC type 2 report also relates to a specific historical period. It doesn’t automatically give assurance about every change made afterward.

What Will SOC 2 Preparation Cost?

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.

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. Included in its package are compliance preparation, training, a compliance platform, and external penetration testing.

Siege Cyber indicates typical fees of approximately AUD 5,000–15,000 for the independent CPA examination, which is billed separately, depending on scope and complexity. Before committing, confirm current pricing, eligibility, and deliverables.

Dealing With a Report That Has Aged

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. Some customers may accept a management-issued bridge letter describing relevant changes since the reporting period ended.

However, acceptance depends on the customer’s requirements, and a bridge letter does not replace an independent examination. Raise reporting gaps early instead of assuming an older report will satisfy procurement.

Get More From Your Compliance Investment Than One Contract

Australian-based SOC 2 readiness support, with fixed-price consulting packages and independent audit coordination, is provided by Siege Cyber. Growing software companies get the most from connecting compliance preparation with actual operational responsibilities.

Assign control owners, maintain security records, and establish 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.

Organized evidence from the start makes the next audit cycle less of a scramble. Regular reviews of responsibilities and schedules help controls keep operating between audits.