Is BUSD 100% backed?

Could you clarify for me, is BUSD truly 100% backed? I understand that it's a stablecoin meant to mirror the value of the US dollar, but I want to ensure there's no room for doubt in its backing. Is there any transparency surrounding the assets used to back BUSD, and how are they regularly audited to ensure the stability and security of the coin? Additionally, are there any risks associated with BUSD not being fully backed, and how does this impact its adoption and trustworthiness in the cryptocurrency community?