Academic audit one of the essential activity to be conducted every academic year by the Internal Quality Assurance Cell (IQAC) in institutional libraries for assessing their standards to submit to the National Assessment and Accreditation Council (NAAC). According to that in this article discussed the need for an academic audit, objectives of the audit, quality measurements, the actual status of libraries, remedial measures to improve the services of the library in every academic year. The objective of the paper is to create awareness among the Library science professionals. This paper also depicts various parameters of libraries assessed during an academic audit. Suggestions were given for the improvement of the library’s standard, supportive documents as proof of every activity and future development. The conclusion of the article is the joint initiative of both the Librarian and the Management for the future development of the institution.