SOC 2 audits are no longer just a consideration for companies and businesses looking to confirm their data security procedures and customer confidence. But for startups and small businesses, compliance costs can be too high. With rates that fluctuate and audit types that shift, some are even wondering if a sub-$15,000 audit is even feasible. To explore this potential, we need to consider the cost drivers, intelligent strategies, and exact steps that may make SOC 2 more affordable in 2025.
Is it Possible to do a SOC 2 Audit for Less than $15,000 in 2025?
Yes, it is. But you will have to make deliberate choices and avoid unnecessary expenses. Here’s how that can be done:
1. Choose a SOC 2 Type I Audit
SOC 2 is available in two types: Type I and Type II. Type I is a point-in-time assessment and is far less demanding on a day-to-day monitoring basis. It is, therefore, much less expensive, usually beginning at as little as $10,000, based on the complexity of your systems.
2. Use Boutique or Niche Audit Firms
Refuse to engage the top-tier firms like the Big Four. Instead, hire boutique auditors specializing in servicing startups and small companies. They provide adaptable pricing structures, such as flat fees or modulated audits that closely correspond to your budget and objectives.
3. Narrow the Audit Scope
You don’t have to address all five trust service criteria in your initial audit. Address security or the criteria most critical to your customers. Less scope means fewer controls, which means less time for auditors and lower charges.
4. Automate Evidence Collection
Utilize compliance automation software that creates reports, sorts documents, and keeps you audit-prepared. This minimizes manual effort and saves auditor hours, lowering your invoice directly.
5. Begin with a Readiness Assessment
Don’t embark on an audit without a clear vision. A low-cost internal or external readiness review identifies gaps before starting the formal process. Addressing problems upfront ensures the audit is smoother, quicker, and less expensive.
SOC 2 Audit Fees: What to Expect
The price of your SOC 2 audit varies based on numerous factors. Knowing them will assist you in budgeting more effectively:
- Audit Type: Type I is cheaper than Type II.
- Number of Trust Criteria: The more criteria you audit, the more expensive it is.
- Size of the Company: The more systems and employees, the more complexity.
- Maturity of Controls: Maturity already present lowers auditor hours.
- Audit Firm Size: Larger audit firms will charge you more for brand value.
- Geographic Location: Prices differ by country and region.
Conclusion
SOC 2 audits under $15,000 may seem ambitious, but with the right strategy, it’s entirely achievable. Start smart by picking the right audit type, narrowing your scope, and working with the right experts. Matayo assists early-stage businesses with SOC 2 audits through adaptable pricing and customized services, without cutting corners. If you’re prepared to show compliance and gain client trust without compromising your finances, Matayo is a good starting point.