This paper selects private listed companies of Shanghai Stock Exchange and Shenzhen Stock Exchange from 2008 to 2010 as the sample, and finds that political connection of ultimate controlling shareholder is significantly negative related to accounting information quality, the type of audit report is insignificant related to accounting information quality, no matter the political connection of ultimate controlling shareholder, audit fee is significantly negative related to accounting information quality, the higher the level of political connection of ultimate controlling shareholder is, the more significant the relationship is.