A possible home grown process would be like this:

Set up a trace and configure it as per auditing requirement. Set up a daily job to have these kinds of logics:

1. stop the previous day’s trace

2. save the previous day’s trace file as AuditTrail_timestamp.trc

3. start the a new trace

4. the job starts at 12:00 AM and stopped at 11:59 PM.

5. deleted 30+ days old files

You have backups for those files upto 1 year.