Snowball originated as a fork of Pickle Finance and Saddle Finance, both of which have been thoroughly audited. Their audits can be found here and here, respectively.
Protocol-wide Snowball audits are under way and will be published soon.
All Snowball contracts have a 24 hour timelock for any upgrades, updates or changes. Furthermore, all key admin functions on contracts, including any SNOB token emissions, are also subjected to a 24 hour timelock.