Audit content of the state-owned enterprises depends on the interaction of audit demand and audit supply. The audit demand of state-owned enterprises comes mainly from the Party Committee and government, the public and the management of the state-owned enterprises itself, while the audit supply consists of the audit resources, audit legal system and audit technology. Under the background of a new round of reform, in order to get the equilibrium of audit demand and audit supply, it is necessary to transform the traditional audit content into policy implementation audit, management audit, personal responsibility audit, overseas assets audit, information system audit, social responsibility audit, rectification audit, and external environment audit for the development of state-owned enterprises.