Knowledge Management (KM) has become an important area of focus in many organizations. This is not surprising given that KM is increasingly associated with organizational success in today's business environment. However, despite the fact that KM is important, KM practitioners are finding hard to implement it and organizations are still reluctant to undertake it. This fear is often attributed to the organization failing to incorporate a knowledge audit in the KM programme. KM gurus agree that the knowledge audit is an essential process in any KM initiative. Knowledge audit will help organizations ensuring that their KM initiatives are informed by real section needs. Because every organization is unique therefore the KM initiatives that each undertake are also unique. This will help organizations to develop informed KM strategies and subsequently implement successful KM initiative. There are many literature in KM however very few look at practicality of conducting a knowledge audit, this will help KM professionals and anyone else who may be interested in conducting a knowledge audit.