The relationship of inspection and audit has gone through such progress as exploration, ups and downs, formation and transformation. The unity, division and interaction of the above two systems, inspection and audit, generally depended on the actual requirements during the different historical periods of revolution and construction with continuous adjustments of different situations in the process of social and economic reforms. Such relationship manifested itself as a complicated integration in terms of function, foundation and content. Looking back the centenary CPC history of institutional relationship, we can see the Party's leadership is the political guarantee for the benign development of inspection and audit relationship, the ever-increasing awareness of rule of law is the key to the such reliable relationship, scientific division of labor and coordination is a must for the efficiency maximization for the relationship.