Yes. Pretty much.
Because it involves the GUI I have found there can be a slight delay, depending on how busy the appliance is, so it may take a few seconds for records to appear.
The underlying auditing mechanism is very comprehensive and there are also CLI commands which, with practice, may prove to be even more useful and powerful.
All the main audit is written to /var/log/audit.raw and this file can be accessed using the "showaudit" and "acat" commands. There are knowledge articles concerning the use of both commands and, in the case of acat in particular, you can apply quite powerful search criteria. There is a particular KB article concerning the use of SACAP filters which will probably be of greatest use.