Modern Economics & Management Forum

The construction of internal control is an important measure to regulate the economic and business activities of colleges and universities, prevent internal and external risks, and improve management efficiency. Financial audit is a necessary means to ensure the authenticity and reliability of financial information, optimize resource allocation, improve the efficiency of fund utilization, and enhance internal control and management. Both share common goals and processes, aiming to further improve financial and internal management levels and promote high-quality development in higher education institutions. This paper focuses on the two key elements—internal control construction and financial audit—and explores the impact of internal control on financial auditing in colleges and universities from the perspectives of the audit environment, audit risks, audit procedures, and methods. It reveals the role and significance of strengthening internal control in improving the quality of financial audits, optimizing resource allocation, and preventing and resolving financial risks. Moreover, the paper puts forward optimization suggestions for the current problems in internal control construction in colleges and universities. The purpose of this study is to further promote the deep coordination between internal control and financial audit and to support the high-quality development of colleges and universities.