The most important application of internet is data transmission. Unfortunately this is less secured because of advanced hacking technologies. So, for secured data transmission we make use of steganography. This is the art of hiding information where the existence of data is unknown. Any medium like music, video, text, speech, etc can be used. In this study, the selected medium is audio. This study discusses about the existing audio steganographic techniques along with their advantages and limitations. Also an algorithm implementing parity and LSB methods is proposed. This mitigates the limitations of the existing methods discussed, thus increasing security and reducing computational load and code complexity.