I'm covering how to audit DB permissions at SQL Lunch (http://www.sqllunch.com). Presentation will be at 12:30 Eastern Time on Nov 4. (today). If you can't make that, it should be recorded and viewable later from that same location. Now if you mean the Audit object, that does not work on SQL Server 2008 Standard Edition, just to make sure you know that. It's a feature only of SQL Server 2008 Enterprise and Datacenter Editions.
K. Brian Kelley
@kbriankelley