We recently began a compliance push at our company and are required to keep a full history of changes to our data which is currently managed in a Rails application. We\'ve
You could also use something like acts_as_versioned http://github.com/technoweenie/acts_as_versioned
It versions your table records and creates a copy every time something changes (like in a wiki for instance)
This would be easier to audit (show diffs in an interface etc) than a log file