Very nice feature and article, this will full fill so many cases but for some real auditing this needs to be get more matured.
I have two informations to share here, one is good and the other one is bad.
first the good one.
SQLCat has build some code to collect audited data, which can be modified as per need.
secondly the bad thing.
We have some limitations of seeing parameterized value, sometimes (in my case most of the time) SQL audit is unable to capture the actual value, which was passes using variable to stored procedure or sql query.