How to Prepare for a SOC 2 Audit: Timeline, Costs, and Common Pitfalls

If you're a SaaS company or cloud-based business targeting enterprise clients, there’s a good chance someone has asked:

“Do you have a SOC 2 report?”

It’s become a default requirement in sales, procurement, and investor due diligence. But for first-timers, SOC 2 can feel vague and overwhelming. There's no single checklist, no universal template, and no quick fix.

This guide breaks down what you really need to know to prepare: what it takes, how long it takes, how much it costs, and what mistakes to avoid.

What Is a SOC 2 Audit, Really?

SOC 2 is a security and trust audit created by the American Institute of CPAs (AICPA). It evaluates how well your company manages customer data based on five Trust Services Criteria:

1. Security (required)

2. Availability

3. Processing Integrity

4. Confidentiality

5. Privacy

Most companies focus on SOC 2 Type II, which covers how your controls perform over a set period (usually 3 to 12 months). This is the version enterprise clients actually want to see.

A licensed CPA firm performs the audit, but the real work happens before the auditor even shows up.

Step 1: Readiness Assessment (1 to 4 Weeks)

Before you even think about the official audit, you'll need to go through a readiness phase. This is where you map your systems, document your controls, and identify gaps.

Common deliverables:

• Control inventory

• System description (what the auditor will review)

• Security policies

• Risk assessment

• Roles and responsibilities

For most startups, this is where things get real. You'll likely need help from a consulting partner, especially if you're building controls for the first time.

Step 2: Remediation and Control Implementation (1 to 3 Months)

Once you identify gaps, it’s time to fix them.

Typical remediation work includes:

• Writing or updating policies

• Enforcing MFA and access controls

• Implementing change management workflows

• Logging and monitoring setup

• Strengthening vendor due diligence

The good news: you don’t have to solve everything at once. But controls do need to be implemented and working consistently before your audit window starts.

Step 3: Audit Observation Period (3 to 12 Months)

For a Type II audit, the CPA firm will review how your controls were operating over time, not just on paper.

This means:

• Logging and monitoring must show actual events

• Controls must have evidence (e.g. ticketing records, approvals, access reviews)

• Policies must be in effect and used by the team

If you're just starting out, many companies begin with Type I (point-in-time) to satisfy early clients while they build up evidence for Type II.

Step 4: The Audit (4 to 8 Weeks)

During the audit, the CPA firm will:

• Interview your team

• Review documentation and evidence

• Validate control design and performance

• Write the final report

You’ll want to have a dedicated internal contact (or external partner) managing requests and guiding the auditor through your systems.

How Long Does a SOC 2 Audit Take?

Activity

Readiness Assessment

Tools / Compliance Platforms

Audit (Type I)

Audit (Type II)

External Consulting (optional)

Cost

$5,000 to $15,000

$2,000 to $10,000/year

$7,000 to $15,000

$12,000 to $30,000

$3,000 to $20,000

Some companies bundle these through all-in-one compliance platforms. Others use a hands-on consultant plus a separate audit firm.

Either way, SOC 2 is an investment. But it’s one that opens doors to bigger deals, better partnerships, and faster procurement approvals.

Common Pitfalls to Avoid

1. Jumping into the audit before you're ready
   You’ll waste time and money if you haven’t implemented controls or gathered evidence.

2. Treating it like a one-time project
   SOC 2 is ongoing. You’ll need to maintain controls, collect evidence, and refresh your audit every year.

3. Overrelying on tools
   Platforms help, but they don’t replace governance, process, or judgment.

4. Lack of ownership
   Someone in your team must drive the process. If it’s everyone’s job, it’s no one’s job.

5. Assuming you need to cover all 5 Trust Services Criteria
   You don’t. Most companies only do Security unless others are required by customers or contracts.

Final Word

SOC 2 isn't just about passing an audit. It’s about building trust.

It shows your clients you take security seriously, that you're operationally mature, and that you're capable of protecting their data. When done right, it's not a burden—it’s a competitive advantage.

How SAMN Consulting Can Help

At SAMN Consulting, we’ve helped SaaS and cloud-first companies across the U.S. and Asia navigate SOC 2 from zero to audit. Whether you're starting fresh or need a sanity check before engaging an auditor, we can help you:

• Assess your current state

• Map and implement controls

• Write policies and guidance

• Manage audit timelines and evidence

📩 Reach out to learn more or book a free discovery call.