Yeah. My first choice for approval is admins because some managers are better than others on this for sure. But that really is only possible because I build for a fairly small user base.
Audit logging is definitely another must for me. I literally won't make an app without it. The app I'm working on now had a case where a PM promised up and down that edit history wasn't needed for a particular section, and lo-and-behold 2 years later it turns out that actually we do need the history.