You can activate this feature after you accept Microsoft API sharing when you activate your subscription.

Audit Reports provide you with collected audit information on activities performed by users on SharePoint, Exchange, Thread Intelligence, Dynamics 365 CRM, Teams, Power BI, OneDrive and Active Directory. This gives total control to tenant admins, within boundaries defined by CoreView’s unique delegation feature.

Audit information are collected from the day of subscription activation.

You can view this data in real-time. As Microsoft tracks activities and makes data on them available, CoreView receives the data and tracks activities internally.

All CoreView audit reports are enriched by Audit Analyzer, a powerful analysis tool that allows you to review audit logs in context. The Audit Analyzer uses a “faceted search” which is designed to eliminate analytical dead ends. This faceted search for all existing Audit reports, with a set of predefined categories for each workload. This unleashes the real power of Audit data, enabling an extremely fast search of data in many business scenarios.