Faced with an increasingly more demanding and aware of their rights, governments have been pressured to deliver results with quality, ethically and transparently, through good public services rendered to the population. In this context, the role of internal controls has gained importance because it represents a fundamental instrument to correct course, reduce inefficiency and waste in public administration. Internal Audit of Federal Regulatory Agencies, inserted in the internal control system to perform its primary functions, should make wide use of information technology resources, and make practical use of knowledge management as a way to overcome difficulties of dealing with the vast universe of information, identifying what is really useful for the decision. Thus, this study sought to uncover what factors are facilitators and inhibitors of Knowledge Management activities of Internal Audit of Federal Regulatory Agencies. To this end, we conducted a qualitative study in a multiple case study, using semistructured interviews with eight Chief Auditors of Federal Regulatory Agencies, held in Brasilia and Rio de Janeiro, a total of ten agencies. As a result, the study found that knowledge management is practiced at different stages in the regulatory agencies, which have different structures and human resources and information technology. Furthermore, it was found that these bodies contribute to control the conversion of tacit to explicit or externalization as well as explicit to explicit or combination thereof. Another finding was that the foster Audits Organizational Learning in the areas audited, both in the simple loop and double loop, in perfect harmony with the theoretical postulates of Argyris and Schon (1996).