The audit feature of SharePoint Online lets you track user actions on a site's content types, lists, libraries, list items, and library files within your site collections. Knowing who has done what with which information is critical for many business requirements, such as regulatory compliance and records management.
You can manage the size of the audit log in the Audit Log Trimming section and specify which events to audit in the Documents and Items and Lists, Libraries, and Sites sections. You can also specify the maximum number of days that items will be retained. By default all items are removed at the end of the month.
As a site collection administrator, you can retrieve the history of actions taken by a particular user and can also retrieve the history of actions taken during a particular date range. For example, you can determine which users edited a specific document and when they did this.
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