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The Ultimate SOC 2 Compliance Checklist for Australian Companies

February 23, 2026

SOC 2 compliance is no longer just a nice-to-have for Australian technology businesses. If you are selling software or services to enterprise clients, government agencies, or overseas customers, there is a very good chance they will ask for a SOC 2 report before they sign a contract. This SOC 2 compliance checklist gives you a clear, practical view of what is involved, what you need to prepare, and how to avoid the mistakes that drag out the process.

 

What Is SOC 2 and Why Does It Matter in Australia?

SOC 2 is a reporting framework developed by the American Institute of Certified Public Accountants (AICPA). It is designed to give your customers independent assurance that your systems are secure, available, and handling their data responsibly.​

SOC 2 is not mandatory in Australia, but it is widely expected by enterprise and global customers. For SaaS companies, managed service providers, and cloud platforms, it has effectively become a commercial requirement. Without it, deals stall, procurement teams push back, and sales cycles drag on while your team scrambles to answer security questionnaires manually.​

The good news is that achieving SOC 2 in Australia is very achievable with the right preparation. The bad news is that a lot of businesses start the process without really understanding what they are signing up for, and that costs them time and money.

 

 

Understanding the Five Trust Service Criteria

SOC 2 is built around five Trust Service Criteria (TSC). Security is mandatory for every SOC 2 report. The other four are optional and should be included only if they are relevant to your services.​

• Security – protecting your systems and data from unauthorised access (required for all SOC 2 reports)

• Availability – ensuring your systems are accessible as per agreed service commitments

• Processing integrity – verifying that system processing is complete, accurate, and timely

• Confidentiality – protecting information designated as confidential from unauthorised disclosure

• Privacy – handling personal information in line with your privacy commitments and obligations​

Most Australian companies pursuing SOC 2 for the first time include Security and Availability as a minimum. If you handle sensitive personal information, Privacy is worth adding, particularly given the obligations under the Australian Privacy Act 1988.

 

SOC 2 Type I vs Type II: Which One Do You Need?

This is one of the most common questions, and the answer matters.

A SOC 2 Type I report is a point-in-time assessment. It looks at whether your controls are suitably designed on a specific date. It is faster and cheaper to obtain, and it is a reasonable starting point if you have never been through the process before.​

A SOC 2 Type II report is what most enterprise customers actually want to see. It assesses whether your controls operated effectively over a period of time, typically six to twelve months. It takes longer to achieve but provides much stronger assurance.​

The usual approach is to complete a Type I first to validate your control design, then run your monitoring period and progress to Type II. Going straight to Type II without preparation is possible, but it is a high-risk move that often results in findings that could have been avoided.

 

The SOC 2 Compliance Checklist

Here is a practical SOC 2 compliance checklist to guide your readiness. Think of this as the foundation you need to have in place before an auditor walks in the door.

 

Policies and Documentation

• Information security policy (reviewed and approved by management)

• Acceptable use policy

• Access control policy

• Incident response policy and plan

• Change management policy

• Vendor and third-party risk management policy

• Business continuity and disaster recovery plan

• Data classification and handling policy

 

Technical Controls

• Multi-factor authentication enforced across all critical systems

• Role-based access control implemented and documented

• Privileged access managed and reviewed regularly

• Encryption at rest and in transit for sensitive data

• Vulnerability management programme in place with documented remediation timelines

• Penetration testing conducted at least annually https://siegecyber.com.au/services/penetration-testing/

• Logging and monitoring configured across infrastructure and applications

• Endpoint detection and response (EDR) deployed on all managed devices

 

Operational Processes

• Formal onboarding and offboarding procedures for staff

• Background checks conducted for employees with access to sensitive data

• Security awareness training completed and documented

• Regular access reviews and recertification

• Incident response tested at least annually

• Change management process followed and evidenced

• Vendor assessments completed for critical third parties

 

Audit Readiness

• Evidence collection process established and running continuously

• All controls mapped to the relevant Trust Service Criteria

• Internal audit or readiness assessment completed before the formal audit

• Remediation of identified gaps documented and tracked

 

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Not sure how many of these you actually have in place? A SOC 2 readiness assessment will map your current controls against the Trust Service Criteria and show you exactly what you need to address before an auditor gets involved. Siege Cyber offers this as a standalone service, and it typically saves clients significant time and cost in the audit itself. View our SOC 2 services here.

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SOC 2 vs ISO 27001 Australia: Which Framework Is Right for You?

This is worth addressing directly because a lot of Australian businesses ask the same question.

SOC 2 vs ISO 27001 in Australia comes down primarily to your customer base and your goals. SOC 2 is a report, not a certification. You do not receive a certificate you can display. Instead, your auditor produces a report that your customers can request and review. It is flexible, relatively fast to scope, and well understood by enterprise procurement teams in the US and Australia.​

ISO 27001, on the other hand, is an internationally recognised certification. It is more prescriptive, requires a formal Information Security Management System (ISMS), and demands more documentation. It carries more weight in government, healthcare, and regulated sectors, and it is increasingly referenced in frameworks like APRA CPS 234.

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The honest answer is that many Australian businesses end up pursuing both. There is significant overlap between the two frameworks, and working through them together, or sequentially, is more efficient than treating them as unrelated projects.

 

 

Using Vanta or Drata to Automate Your SOC 2 Controls

Compliance automation platforms like Vanta and Drata have made it significantly easier to collect evidence, monitor controls, and stay audit-ready year-round. If you have already purchased one of these platforms, you are in a good position.

That said, the platforms do not do everything. They automate evidence collection and flag gaps, but they cannot write your policies, make risk-based decisions, or prepare you for the questions an auditor will ask. That is where expert guidance still makes a real difference.

Siege Cyber is an official partner of both Vanta and Drata. If you have already invested in one of these tools and are not sure how to get from where you are to an actual audit, we can help you bridge that gap.

 

 

How Long Does SOC 2 Take in Australia?

A realistic timeline for a first-time SOC 2 engagement looks something like this:

• Readiness assessment and gap remediation: 4 to 12 weeks, depending on current maturity

• Type I audit: Can be completed within 4 to 8 weeks once controls are in place

• Type II monitoring period: Typically 6 months, sometimes 12

Businesses that start with a proper readiness assessment and remediate gaps before the audit clock starts consistently achieve better outcomes, faster. Trying to fix issues during the audit is expensive and stressful.

 

 

Get Your SOC 2 Right the First Time

SOC 2 compliance is absolutely achievable for Australian businesses of any size, but it rewards those who prepare properly. Work through this SOC 2 compliance checklist, understand where your gaps are, and get the right people around you before you engage an auditor.

Siege Cyber works with Australian technology businesses and MSPs from initial readiness through to audit completion and ongoing compliance maintenance. Whether you are just starting out or you have been sitting on a half-finished SOC 2 programme for months, we can help you move forward with a clear plan.

 

 

Visit siegecyber.com.au/services/soc2/ to learn more about how we support SOC 2 readiness and audit preparation, or view our compliance pricing to understand what an engagement looks like.

 

 

Siege Cyber has been helping businesses across Australia with penetration testing, compliance, and cyber risk for over 20 years. If you’d like to discuss what type of testing makes sense for your organisation, or if you’re preparing for an ISO 27001 or SOC 2 audit and need testing as part of that process, get in touch.

You can reach us at siegecyber.com.au or email [email protected] directly. We’re based in Brisbane but work with clients across the country.