Due to the increasingly fierce competition among enterprises, in order to maintain a good operating state after the company changes, many enterprises have adopted the way of related party transactions to optimize the company’s asset structure and improve the company’s performance. Due to the particularity of related party transactions, on the one hand, it can reduce transaction risks and reduce transaction costs; on the other hand, through improper related party transactions to manipulate corporate profits, whitewash financial statements, the implementation of financial fraud, increased audit risk. This paper intends to analyze the current situation of related party transactions and audit fees of listed companies from the perspectives of transaction costs, principal-agent, information asymmetry and theory, and systematically analyze the correlation between related party transactions.