A smart contract audit is a thorough review and analysis of the code of a smart contract that interacts with a cryptocurrency or blockchain. This technique is used to find mistakes, flaws, and security vulnerabilities in the code so that changes and fixes can be suggested. Because most smart contracts deal with financial assets and/or precious things, smart contract audits are generally required.
Such tests are difficult to do since smart contracts frequently interact with one another, and any interfaces with third-party systems can make the system vulnerable. As a result, the tests are frequently expanded to include additional smart contracts involved in any transactions, including those with which the ones it interacts are interacting. Running tests and manual code analysis are generally included in such assessments.