Economic responsibility auditing is an important part of the auditing supervision system of socialism with Chinese characteristics. Considering the characteristics of Chinese universities, such as fast growth of funds, large volume of public funds, many types of projects, large span of management, weak closedloop management, many latent risks, relatively insular business, and difficult external supervision, combined the mission of the times and main functions of universities, we clarify the basic connotations of fund projects and economic activities in universities and leading officials. On this basis, this paper enhances the comprehension of carrying out economic responsibility auditing in universities from two perspectives: analyzing the issues in university fund projects and economic activities, and specifying the economic responsibilities of key university leaders. Additionally, this paper identifies the key links and main problems of economic responsibility auditing in universities in fulfilling responsibilities for institutional standardization, collective decisionmaking, decentralized execution under centralized oversight, democratic governance, closedloop management throughout the entire process, as well as implementing continuous standardized governance in response to audit rectification requirements.