Based on the background of the implementation of audit full coverage, this paper explores the impact of different dimensions of local audit institutions’audit coverage on the governance efficiency of state owned enterprises. The research shows that compared to the audit unit coverage rate and audit content coverage rate, the economic accountability audit coverage rate has a significant positive impact on the governance efficiency of state owned enterprises. This paper holds that in addition to direct influence, the state audit coverage affects the efficiency of state owned enterprises by affecting local government behavior and government enterprise relationship. The specific mechanisms are as follows: first, the improvement of state audit coverage rate eases the information symmetry between the government and enterprises; second, the improvement of state audit coverage rate reduces the government officials and state owned enterprise executives and government improper intervention in state owned enterprises by strengthening public power monitoring.