Hi,
Possible causes of the audio failing to play are:
- Audio is muted (not turned on) in iMovie.
- The audio is DRM (copyright) protected.
- The audio is in a format not compatible with iMovie.
Re No. 1, select the clip with audio in it and click on the loudspeaker icon in the tool bar at the upper right of the screen. Make sure that the mute button is not activated.

Next, go to System Preferences/Sound and make sure that the Output volume Mute box is not checked.

Next, click on the Settings button above and to the right of the timeline, and, in the box that appears, make sure that the Show Wave Forms box is checked. Then make sure that the horizontal volume line is pushed up toward the top.

Re No. 2 above, DRM (Digital Rights Managed) audio that is copyright protected will not play in iMovie and will not display a wave form. Confirm that your audio is not DRM protected.
Re No. 3, above, audio that is not compatible with iMovie will not play. It might be in a format not recognized by iMovie, or perhaps the rendering of the audio clip was faulty. Sometime Mp3 audio, although compatible, can cause issues. iMovie likes the AAC audio format. Mp4 clips that are not AAC may not work properly in iMovie. Try running the video clip that contains the audio through the free download, Handbrake, that will convert it to Mp4/AAC by default. Do that even if the clip already is in Mp4/AAC format.
You can get Handbrake here:
https://handbrake.fr/
A simple way to do it is to open Handbrake and do a File/Open Source. Navigate to your video and choose it as the source from the resulting screen. Then do File/Start Encoding. Wait a couple of minutes for the conversion to
complete. Then save and import the converted clip into iMovie. See if the audio plays.
-- Rich