To serve the Chinese path to modernization, the construction of the audit discipline needs to be strengthened urgently. Based on the national strategic demand and the theory of Chinese path to modernization, this paper discusses the functional orientation and innovative development of the audit discipline. The research holds that the functional orientation of auditing discipline should be optimized, and the new orientation should reflect the five scientific connotations and nine essential requirements of Chinese path to modernization. The functions of auditing itself need to focus on six aspects of economic supervision, political supervision, cultural supervision, ecological supervision, decision-making consultation and trust building. The functions of talent cultivation, scientific research and social service need to be continuously deepened and expanded, it is necessary to promote the independent cultivation of auditing talents, strengthen the research of auditing theory, promote the in-depth development of research-oriented auditing, highlight problem orientation, actively conduct practical and applied research, and continuously improve the targeted and effective service of research to national strategic needs. Strengthen the social service orientation of auditing discipline, closely link the development of the discipline with social development, and strive to make important progress in the construction of think tanks, cooperation frameworks, national traction, the transformation of research results and other aspects. The development of the audit discipline should be in sync with auditing practice, aim at the construction of world-class disciplines, and constantly enrich and perfect the theory of socialist auditing with Chinese characteristics in innovative development, which involves accelerating the construction of China’s independent audit knowledge system, further refining the discipline direction and promoting the cross integration of auditing discipline, intensifying the construction of innovative platforms for auditing discipline, straightening out mechanisms and focusing on enhancing the innovative power of auditing discipline team, exploring training mode reforms and striving to improve the quality of graduate education, and focusing on the construction of auditing doctoral programs to cultivate first-class innovative talents.