To be able to manage mailbox audit logging you have to be a member of either one of these groups: Mailbox audit logging can track actions performed by 3 types of users: the mailbox owner, mailbox delegate, and administrator.
By default, when you enable auditing, only selected actions by the administrator and delegate are logged.
Within this single file, Outlook stores all your folders and items (emails, contacts, appointments, etc…).
You can add additional pst-files to separate your data between multiple files.
The log files are kept in individual mailboxes in the Recoverable Items folders and cannot be viewed via Outlook, OWA or any other client level access points.