Cats chief executive Steve Hocking received a letter from the AFL's legal counsel after another of Smith's social media posts drew controversy.
The 24-year-old has consistently found himself in the headlines for the wrong reasons since verbally abusing a photographer at a training session the week after Geelong's qualifying final win in September.
But in Smith's first year at Geelong, the former Western Bulldogs ace put together a career-best season as he finished third in the Brownlow Medal and the Cats made the grand final.
"We're really confident that it's in a really good spot," Scott said of Smith's behaviour.
"If you separate out off-field issues ... if we think through how the last 12 months have gone with Bailey, it's been an outrageous success.
"Outrageous, not perfect.
"If you are privy to some of the information with a whole range of our players, it's likely that's it's going to be a similar sort of description; some bits have gone really well, and there are other bits that we've sort of got to nudge and manage a little bit.
"But that's all it is, a nudge here and there.
"I refuse to buy into the idea that there's major work to be done, I just don't believe that to be true."
Scott has always publicly defended his players, and again refused to condemn Smith for his post-season antics after being pressed on the issue following his announcement as Victoria's State of Origin coach.
But the dual premiership coach did acknowledge he was relieved Cats players would no longer be dressing up for Mad Monday.
Smith made a series of divisive posts, which were then all deleted, during the post-grand final celebrations.
Mitch Brown, the first male AFL player to come out as bisexual, and prominent journalist Caroline Wilson both took offence at Smith's posts.
Even before the AFL's letter, Hocking admitted his post relating to Wilson was "completely unacceptable" and that the club would speak to Smith about his behaviour.
Scott is yet to formally speak with Smith after the AFL's warning last week.
"The big win for me, personally, over the last few weeks is that the players aren't dressing up for Mad Monday anymore," Scott said.
"Just because I don't like it doesn't mean I should impose my will on the rest of the players.
"I'm very conscious of respecting the players' privacy and desire to get away.
"We almost wear it as a badge of honour that we don't consider our role as one of ownership of our players."
Scott admitted he was still personally processing the Cats' 47-point grand final loss to Brisbane when they were blown away from the end of the third quarter.
"Generally, the likelihood is you're going to lose the last game of the season and be bitterly disappointed," he said.
"That's not easy, but pretty quickly, in my experience, the excitement and the things that you've got to look forward to gradually take over."
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