SOC 2 Readiness Checklist for Australian SaaS Companies

Preparing for a SOC 2 audit can feel overwhelming, particularly for SaaS companies expanding into international markets. Enterprise customers increasingly expect SOC 2 reports before signing contracts, and investors see compliance as a sign of operational maturity. For Australian SaaS providers, readiness is not optional. It is a signal to clients and regulators that your organisation can be trusted with sensitive data.

To make the process easier, we created a SOC 2 Compliance Checklist built by consultants and validated by auditors. You can download the full checklist here to guide your team through every stage of preparation.

Why readiness matters

SOC 2 adoption is accelerating. In 2024, implementations grew by 40 per cent year on year, driven by enterprise procurement requirements. The risk of ignoring it is high, with 58 per cent of data breaches traced to third-party vendors lacking SOC 2 or equivalent frameworks.

For growing SaaS companies, readiness can also unlock sales opportunities. Only 7 per cent of startups with less than $1M raised had SOC 2 in place, compared with 45 per cent of companies with over $100M funding. In short, compliance builds trust, shortens sales cycles, and positions your business for scale.

👉 Preparing for SOC 2 is complex, but you don’t need to start from scratch. Get the complete step-by-step SOC 2 Compliance Checklist to guide your team through all 13 phases of readiness.

Key steps in SOC 2 readiness

Our checklist breaks the readiness journey into clear phases. Below is a high-level overview. The full version includes detailed tasks, templates, and evidence examples.

Initiation: Appoint an executive sponsor, decide on Type I or Type II, and align your roadmap with a compliance advisor.

Scope: Define which systems and services are in scope. Document data flows and third-party dependencies.

Readiness assessment: Perform a gap analysis, create a system description, and assign control owners.

Policy and control design: Draft key policies covering security, access, vendor management, disaster recovery, and business continuity. Link them to control procedures for audit evidence.

Control deployment: Implement the technical and administrative measures, validate outputs, and establish metrics to track performance.

Monitoring and incident response: Deploy monitoring tools, test incident response plans, and review logging and retention.

Vendor management: Assess critical suppliers, update contracts with security clauses, and capture SOC 2 reports from key providers.

Privacy and governance: If Privacy is in scope, assign roles, publish a privacy policy, and maintain inventories of data flows.

Audit preparation: Collect supporting evidence, run a mock audit, and remediate gaps.

Audit execution: Engage a licensed CPA firm and complete the Type I or Type II report. Continuous compliance can be maintained with automation platforms.

This summary only scratches the surface. The full SOC 2 Compliance Checklist includes policy templates, control examples, and evidence requirements. Download it free today.

Common pitfalls

SaaS companies often underestimate how long readiness takes. Evidence gathering, policy drafting, and control remediation can stretch timelines. Others forget to involve third-party vendors, leaving gaps in assurance. Some wait until just before the audit to fix issues, which often leads to delays and higher costs. A checklist keeps teams accountable and avoids last-minute surprises.

Get your free SOC 2 Readiness Checklist

The blog is only a starting point. The full SOC 2 Compliance Checklist provides a structured, step-by-step guide tailored for Australian SaaS providers. It covers all thirteen phases, from initiation through to continuous compliance, and includes examples of policies, controls, and evidence.

👉 Download your free SOC 2 Readiness Checklist PDF

How CyberPulse can help

CyberPulse supports Australian businesses through every stage of SOC 2. We run readiness workshops, conduct gap assessments, and provide ongoing advisory through vCISO services. Our fixed-price delivery model ensures predictable outcomes and timelines.

If you are planning a SOC 2 audit, explore our SOC 2 audit services and readiness assessment in Australia or learn more from our SOC 2 audit and compliance readiness blog.

Useful Links

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SOC2 Audit Services: https://www.cyberpulse.com.au/soc-2-audit-services-australia/

PCI-DSS Audit Services: https://www.cyberpulse.com.au/pci-dss-compliance-services/

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