SOC 2 Audit Preparation Costs
Definition
SOC 2 certification involves scoping, control implementation, internal audits, and external Type 2 reports, driving high consulting and audit fees.
Key Findings
- Financial Impact: AUD 50,000-150,000 per certification cycle (consulting + audit fees)
- Frequency: Annual or bi-annual
- Root Cause: Manual scoping, control development, and evidence collection
Why This Matters
The Pitch: Business Intelligence Platforms in Australia 🇦🇺 spend AUD 50,000-150,000 per SOC 2 audit cycle. Automation of compliance audit management cuts this by 50%.
Affected Stakeholders
CISO, Compliance Manager, Finance Director
Deep Analysis (Premium)
Financial Impact
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Current Workarounds
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Methodology & Sources
Data collected via OSINT from regulatory filings, industry audits, and verified case studies.
Related Business Risks
GDPR Cross-Border Fines
Customer Friction Churn
Decision Errors
Revenue Leakage
Delayed BAS/GST Reporting from Connector Issues
ATO Compliance Penalties for Data Reporting Failures
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