Since the concept of the Auditing Power was introduced into China in the late Qing Dynasty, it has continued to evolve in two dimensions of the practice and the law, and people’s cognition of audit theory and practice continues to deepen. “The 1982adopted Constitution” officially delineates the concept of the Power of Auditing Oversight and defines it as an authority that is subordinate to executive power while possessing supervisory attributes. Accordingly, the above concept has accumulated a lot of contents with Chinese characteristics during its longterm autonomous evolution. In the new era, the concept has been deepened and developed in the political construction of the Party, the complex market economy model and the national governance system, and has gained rich connotations of politics, rule of law, independence, supervision, professionalism and comprehensiveness. The concept of “the Power of Auditing Oversight” is a defining concept in China’s independent audit knowledge system. Its development trend will show the evolution of political character from the jurisprudence to the law, the continuous improvement of independence with the change of audit mode, and the continuous evolution of normative structure from conflict to coordination.