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For more details on what information is captured refer to the following https://support.office.com/en-us/article/Configure-audit-settings-for-a-site-collection-A9920C97-38C0-44F2-8BCB-4CF1E2AE22D2. 

Configuration

Configuring Auditing in SharePoint Online

Please refer to the following article on configuring auditing in SharePoint Online https://support.office.com/en-us/article/Configure-audit-settings-for-a-site-collection-A9920C97-38C0-44F2-8BCB-4CF1E2AE22D2

AuditMaximum Setting in RecordPoint

RecordPoint strictly enforce the 'AuditMaximum' setting in the RecordPoint Configuration list, delivering performance improvements when submitting content with large numbers of SharePoint audit entries associated.

Only the oldest N audit entries since the last submission of an item will be captured by RecordPoint, where N is the value of this setting. When content is submitted to RecordPoint with more than this number of audit entries, a warning log entry will be written.