Establishing and improving a long-term mechanism for relative poverty governance with the participation of the whole society is an important path to achieve common prosperity. Inspection and supervision can not only promote the inspected enterprises to more actively and effectively serve the national strategy and fulfill their social responsibilities, and promote their participation in poverty governance, but also suppress short-sighted behaviors such as earnings management by changing the development strategies and management strategies of the inspected enterprises. It is helpful for enterprises to fulfill their social responsibilities such as poverty governance. At the same time, the Party building work is an important factor affecting the effectiveness of inspection and supervision, and the improvement of the embeddedness of the Party organization of the inspected enterprise can strengthen the role of inspection and supervision in promoting its participation in poverty governance. The analysis of China’s A-share state-owned listed companies from 2016 to 2020 shows that after the inspection team was stationed in the inspected enterprises, the participation tendency, investment generosity and information transparency of the inspected enterprises were significantly improved, and the partial intermediary effect of earnings management was significant. Inspection supervision can promote the participation of enterprises in targeted poverty alleviation by inhibiting the path of enterprise earnings management. The improvement of the embeddedness of the Party organization will not only help enterprises to participate in targeted poverty alleviation, but also enhance the positive impact of inspection and supervision on the participation of inspected enterprises in targeted poverty alleviation. As an important system and method of intra-party supervision, the inspection plays an important role not only in promoting the Party organization construction, but also in improving enterprises’ behavior and other social and economic aspects. On one hand, it is necessary to further strengthen inspection and supervision, strengthen targeted inspections in key areas such as poverty governance, gradually expand the scope of inspections (such as non-public enterprises, etc.), and effectively promote various types of enterprises to participate in poverty governance more widely. On the other hand, it is necessary to improve the embeddedness of the Party organization of enterprises, form a linkage mechanism between inspection supervision and internal supervision, and enhance the endogenous motivation of enterprises to actively participate in poverty governance.