As an emerging financial service in China, supply chain finance combines logistics, information flow in the traditional supply chain management with financial flows relevant to finance in an organic way, which effectively solves the bottleneck problem of SME cash flow in the supply chain, thus reducing the risk, accelerating business cycle and protecting the efficiency brought by the division of labor and specialization. According to the characteristics of operation mode of supply chain finance, it can be divided into receivable financing model, FTW financing model, confirming warehouse financing model and the “Internet +” supply chain financial model. As an innovative business, supply chain financial risk has brought challenges to the audit work. State audit could make use of its comprehensive and professional advantages, targeted to prevent and resolve supply chain financial risks.