In recent years,with the liftoff the Chinese economy,the goverment has invested a lot in colleges.Therefore,our higher education has developed very quickly.However,with exponential increasing of various operational costs,the colleges are facing more and more fianancialrisks.Under this condition,internal audit is becoming more and more important.This paper firstly analyzes the current situation of colleges＇ fianancial managment.Then it analyzes the function of internal audit in colleges＇ fianancial managment.It puts forth measures for strengthening of the colleges＇ fianancial managment in expect of providing security for the sustainable development of colleges.