This functionality was added in July 2016. To take advantage of the Flex Audit Log per item just add add a Sub Grid to the item’s display page. For example, if you want to see a summary of all changes made on a Project or an Opportunity simply add a Sub Grid and point it to the Flex Audit Log with the following configurations.
From the Sub Grid Web Part Properties page select the Flex Audit Log from the List Name drop down. Once this is done add the field values that would be useful such as the ones shown above.
Use the Custom Parent/Child Column configuration settings on the Sub Grid under the Filter section of the Web part.
As the Audit Log should not be edited by the user set the Behavior to “Use grid as read-only display” as shown below.