How to Prepare for a Smart Contract Audit

Preparing for a smart contract audit can feel like a big step, especially if it’s your first time. You’ve built something valuable, you’re excited to launch, and now comes the part where an external team looks through every line of your code.

The process doesn’t have to be stressful. With the right preparation, you can make your audit smoother, faster, and ultimately more useful.

At Failsafe, we’ve worked with hundreds of founders and engineers going through this exact process. The best audits always start with solid preparation. Here’s a practical guide to help you get ready.

Why Audits Matter

A smart contract audit is more than just a box to tick before launch. It’s a chance to make sure your code does exactly what you intend — and nothing more. Once a contract is deployed, mistakes are permanent.

An audit helps you catch vulnerabilities early, builds confidence with your community and investors, and signals that your team takes security seriously. Think of it as a second set of expert eyes on the most important part of your project.

Step 1: Lock Your Scope and Code

Before anything else, freeze your code. Your auditors can only review what you give them, so make sure the version you share is the one you plan to deploy. Include the commit hash, branch name, and any external dependencies.

If your contracts interact with oracles, tokens, or third-party protocols, note those dependencies clearly. The more context you share upfront, the less time auditors will spend trying to piece it together.

Step 2: Clean Up and Comment Your Code

Readable code makes for a faster, more accurate audit. Simple things like consistent naming, spacing, and function order can make a big difference.

Add comments wherever logic isn’t immediately clear. Explain why you made certain design choices, especially around upgradeability or role permissions. This isn’t about over-explaining every line, but giving your auditors enough information to understand intent.

Run your code through a linter or a tool like Slither or Mythril to catch obvious issues before submission. It’s like brushing your teeth before visiting the dentist — it saves everyone time.

Step 3: Review Your Access Controls

Most high-severity issues we find at Failsafe come down to permissions. Go through every admin or privileged function and ask: who can call this, and what could go wrong if they do?

Use libraries that are already battle-tested, such as OpenZeppelin’s AccessControl, and avoid single points of failure like one “owner” wallet that can do everything. If your protocol is upgradeable, make sure upgrade logic and initializers are protected and can’t be called twice.

If you can’t clearly explain your permission structure in two sentences, it probably needs to be simplified.

Step 4: Strengthen Your Tests

A good test suite is your first audit. Write unit tests for every function, including edge cases — things like zero values, invalid input, or expired timestamps. Run integration tests to check how your contracts interact with external systems.

Add automated testing to your CI pipeline so new commits don’t accidentally break something that was working before.

If you want to go the extra mile, use fuzzing tools like Echidna or Foundry’s built-in fuzzing to throw random inputs at your contracts. You’ll be surprised what surfaces when you do.

When we receive a codebase that already has strong tests, the audit tends to go faster and yields more meaningful findings.

Step 5: Document Everything

The best audits always start with clear documentation. Include a short README that explains:

• What the protocol does and what problem it solves
• The purpose of each contract
• The key functions and how they interact
• Who has control over upgrades, mints, burns, or parameter changes

Architecture diagrams help a lot too. Even a simple diagram showing how contracts talk to each other can save hours of explanation later.

The goal is to make your auditor’s first impression: this team knows what they’re doing.

Step 6: Plan the Audit Process

A typical audit involves a few stages: initial review, findings report, fix phase, and final verification.

Before you begin, agree on what’s in scope, what’s out of scope, and what timeline you’re aiming for. Assign a point person on your team who can answer questions quickly. The more responsive you are during the audit, the smoother it goes.

After the first report, take time to fix the findings properly rather than rushing to close tickets. Once fixes are verified, request a final summary or certificate to include in your documentation or launch materials.

Step 7: Post-Audit Hygiene

An audit isn’t the end of the story. Once you’ve deployed, double-check that the live contract matches the audited version. Lock down any upgrade paths or admin keys that shouldn’t stay open.

It’s also a good time to set up on-chain monitoring and alerts. Failsafe helps teams track contract behavior in real time, flag abnormal transactions, and spot potential exploits before they escalate.

Continuous monitoring bridges the gap between your pre-launch audit and your day-to-day operations.

Common Questions

Do I really need an audit?
If your contract touches user funds, yes. It’s one of the best investments you can make.

How much does it cost?
It depends on complexity and timing. Smaller codebases might cost around $8,000, while more advanced ones can reach $40,000 or more.

Can I make the audit faster or cheaper?
Yes. Clean code, solid tests, and good documentation save auditors time, which saves you money.

Is one audit enough?
For most protocols, a single audit before mainnet launch is a good start. For higher-value systems, a second review or continuous assessment adds extra assurance.

Final Thoughts

Preparing well for your first audit is a sign of a mature project. It shows investors and users that you take security seriously. It also gives you more value for your money, because your auditors can focus on real vulnerabilities instead of basic housekeeping.

At Failsafe, we like to remind founders that security isn’t just a checkbox — it’s a process. The teams that prepare early and treat audits as part of their development lifecycle are the ones that launch with confidence.

If you’re gearing up for your first audit and want to make sure you’re ready, we’re happy to help you review your code, scope your audit, or even just talk through your setup. A little preparation goes a long way.

Interested in learning more about how Failsafe helps projects secure their code and operations? Visit www.getfailsafe.com schedule a quick consultation or see our recent audits.