Financial institutions are confronting more complicated risks as a result of the current financial crisis. Financial auditing is an essential aspect of government auditing since it serves to protect the security and stability of the national financial system by evaluating financial systemic vulnerabilities. Therefore, this paper combines the grey relational analysis to carry out research work on the financial auditing effect and improvement evaluation. Firstly, we conducted a preliminary selection of relevant financial audit impact indicators and identified the design of the influencing factor system as well as appropriate data for the influencing factors, resulting in the first evaluation system of the evaluation indicators. Secondly, we created a factor set for evaluating the financial audit improvement effect. The completed task proportion component and the task completion quality factor are the two kinds of improvement impact evaluation factors. On this foundation, this research develops a grey correlation-based assessment model for audit effect enhancement. The residual graph fitting findings indicate that the scheme has a good implementation impact and may be utilised to assess the financial auditing improvement effect.