What is Smart-contract audit?
Also called: security audit, audit
An audit is a structured security review of contract code by specialists who look for exploitable flaws. It reduces risk and documents findings, but it never proves code is safe.
In practice
Read the report, not the badge. What matters is scope, which commit was reviewed, severity of findings, and whether each issue was fixed. An audit of an old version tells you little about what is deployed today. Competitive audit platforms and ongoing bug bounties complement one-off reviews.