The implementation of the audit supervision system in accordance with the law for nearly 20 years has demonstrated its significant role in maintaining the reform, development, and stability of colleges and universities. After extracting relevant financial data from the database, this study creates a maximum classification tree by splitting nominal variables in the ID3 incremental learning decision algorithm. It then combines incremental and categorical learning modules to establish the financial management and early warning system of colleges and universities. Subsequently, the innovation platform for university financial management and audit supervision is designed by combining the system with the objectives of university financial audit supervision. After testing, the function and performance of the platform are normal, and it can be applied to achieve financial management and audit supervision in universities. After applying the innovative platform proposed in this paper, the overall score of financial management and audit supervision in University E increased from 11.97 in 2018 to 16.16 in 2023, which is within the good and excellent range. This paper holds practical value in effectively enhancing the effectiveness of audit supervision in colleges and universities, further promoting the construction of internal systems and financial management in these institutions, and improving the efficiency of the use of educational funds and school operations in these institutions.